National Bank of Canada on Sept. 8 finalized its acquisition of Flinks Technology Inc., a financial data aggregation and distribution company.

The amount of the deal was C$73 million in cash for voting preferred shares, according to the company's fourth-quarter earnings release Dec. 1.

At the time of the acquisition, National Bank of Canada was holding an 82.9% equity interest in Flinks, giving it control over the company. Immediately following the transaction, the bank made an additional C$30 million investment in voting right preferred shares, which gave it an 85.9% equity interest in Flinks.

The amount of the purchase price, the fair value of the previously held equity interest and the estimated value of the noncontrolling interest established on the acquisition date surpassed the fair value of the net assets acquired by C$101 million. The excess amount has been recorded on the bank's consolidated balance sheet as goodwill and mainly represents the anticipated profits of Flinks, considering its favorable position in the growth market. The previously held equity interest, accounted for as an associate, was remeasured at fair value and generated a C$33 million nontaxable remeasurement gain.

For the fourth quarter, National Bank of Canada reported net income of C$776 million, or C$2.19 per share, compared to C$492 million, or C$1.36 per share, in the year-ago quarter.