8th May 2012. iProperty Group Ltd (ASX:IPP), owner of Asia’s No. 1 network of property portal sites under the iProperty brand (www.iproperty.com), announced that it had agreed to acquire vproperty.com, the clear leader in the Macau for USD300Kin cash.
The acquisition extends the reach of the Group in the region with the Macau based portal being managed by the iProperty Group’s gohome.com.hk business.
Vproperty.com currently generates revenue from Continue reading
3rd May 2012. Energy One (ASX:EOL) has announced that it has acquired the assets, business and existing customers of energy bidding software company HARD Software Pty Ltd, including the Web Offer System (WOS) software and intellectual property.
The WOS system is Australia’s leading energy bidding software platform, enabling the bidding of multi-billion dollar electricity transactions into the National Electricity Market (NEM) on a daily basis. This is a mission-critical activity for generators in the NEM and WOS is the trusted and proven platform used Continue reading
30th April 2012. Wipro Limited (NYSE:WIT) today announced that it has signed an agreement to acquire Promax Applications Group (PAG), a leading player in trade promotion planning, management, and optimization solutions for A$35 million in cash, to help the software exporter tap the market for analyzing customer data as it looks to drive growth at its outsourcing division. The acquisition follows a January announcement of a strategic partnership between the two firms.
Completion of the acquisition is subject to customary closing conditions and regulatory approvals and will be closed in the current April-June 2012 quarter. The newly formed entity will be called as Wipro Promax Analytics Solutions Pty Ltd.
Port Stephens (Newcastle) based Promax, which Continue reading
24th April 2012. Hyro Limited (HYO) has announced it has entered into a Security Purchase Agreement with KIT digital Inc for the Company to sell its Main Undertaking and Operations to KIT digital for the purchase price of AUD$17.2m in cash, or 2,079,972 NASDAQ listed ordinary shares in KIT digital (at the discretion of KIT digital), equivalent to 60 cents a share.
Under the Agreement, the Company will sell to KIT digital the Company’s shareholding in the following wholly owned subsidiaries of the Company: Hyro Australia Pty Ltd; Idaptive Pty Ltd; Hyro Digital Pty Ltd; Hyro Asia Limited, a company registered in Thailand. The agreement was signed on April 21, 2012 with the closing of the transaction subject to Hyro shareholder approval at the Hyro Annual General Meeting in first week of June 2012.
KIT Digital, a NASDAQ listed company (NASDAQ: KITD) with its operational headquarters in Prague in the Czech Republic has with a market capitalisation in excess of Continue reading
16th April 2012. – Primus Telecommunications Group (NYSE: PTGI), a global facilities-based integrated provider of advanced telecommunications products and services, announced today that it has entered into a definitive agreement to sell its Australian operations to ASX listed M2 Telecommunications Group (ASX: MTU) for approximately $A192.4m, or approximately $US 200m, on a debt-free basis and including A$10.6 million of restricted cash to secure bank guarantees for property lease and supplier security requirements.
Primus’ Australian operations delivered revenues of A$280.2m in CY2011 and an EBITDA of A$39.9m. The transaction is expected to complete on 1 June 2012, delivering a combined group pro forma CY2011 EBITDA of Continue reading
26th March 2012. Q Ltd (ASX:QXQ) and Beyond D Pty Ltd, a wholly owned subsidiary of TV production and distribution company Beyond International Ltd (ASX:BYI), have entered into an agreement that proposes the sale of all Q Ltd’s digital marketing operations and assets to entities controlled by Beyond International Ltd.
Under the Sale Agreement, Q Ltd will receive up to approximately $3.25 million for the underlying assets, comprising: approximately $1,500,000 in cash on completion; up to $500,000 Continue reading
19th March 2012. Sydney-borne ISYS Search Software, a global leader in embedded search and universal information access solutions, today announced its acquisition by Lexmark International, Inc. (NYSE: LXK). Terms have not been disclosed.
Established in Sydney in 1988 by Ian Davies, ISYS previously marketed and sold enterprise search applications. Davies developed prototype text retrieval software that would be suitable for use in large databases. The Australian market for the prototype software developed, and in 1991, PC Week Magazine wrote a favourable review that assisted in attempts to break into the US market.
An ownership interest held by the wife of Australia’s federal shadow communications Minister, Malcolm Turnbull, created Continue reading
8th March 2012. Cornerstone OnDemand (NASDAQ:CSOD), a global leader in cloud-based talent management solutions, has announced that it has entered into an agreement to acquire privately held Sonar Limited (“Sonar6”). Based in Auckland, New Zealand, Sonar6 is a leading provider of cloud-based talent management solutions serving small businesses globally.
Cornerstone will pay approximately $13 million in cash and $1 million in equity for Sonar6 and enter into Continue reading
7th March 2012. Sydney-based Atlassian Software, a leading provider of collaboration software for product teams, today announced it has acquired San Francisco-based HipChat, a hosted private chat service for companies and teams. HipChat has more than 1,200 customers including Groupon, HubSpot and WIRED. Atlassian will incorporate HipChat into its growing portfolio of software that helps teams at more than 18,000 companies work better together and build software faster.
Terms have not been disclosed, but HipChat’s three co-founders – Pete Curley, Garret Heaton and Chris Rivers – will all join Atlassian to continue to grow and develop the HipChat product and business.
All of Atlassian’s current tools, including its Confluence wiki and enterprise social network as well as its JIRA bug and issue tracking tool, are asynchronous Continue reading
29th Feb 2012. Queensland live video social network startup, Kondoot, has lodged a prospectus with the Australian Securities and Investment Commission (ASIC) for the preliminary public offering of its shares to raise A$10m “for the purposes of marketing and expansion”. Under the prospectus, there are 83,333,334 new Kondoot shares offered at $0.12 each, giving the company a valuation of over A$50m.
Whilst filing a prospectus for $10m, the company advises the minimum subscription amount is A$250,000. The offer closes Continue reading
28th Feb 2012. Southern Cross Telco Pty Ltd, a wholly owned subsidiary of M2 Telecommunications Group Ltd (ASX:MTU), has executed an agreement with Melbourne-based Time Telecom Pty Ltd and related entities under which M2 has acquired the business assets of Time Group, including its 30,000 customer base.
The transaction involves a maximum cash consideration of $18.35 million for the Time Group assets, payable over three tranches, the first payable upon completion, with the remaining tranches payable six and nine months after completion. The second and third payment tranches are subject to Continue reading
25th Feb 2012. Technology blog TechCrunch and Bloomberg have reported that Apple (NASDAQ:AAPL) has announced the acquisition of San Francisco-based Chomp, which helps users sort through the widening array of software applications for mobile devices, for an estimated US$50 million.
Apple has confirmed the acquisition but not the price saying “we buy smaller technology companies from time to time and generally don’t comment on our purposes or plans.” according to Bloomberg.
Chomp’s software allows Continue reading
21st Feb 2012. Singapore Telecommunications Limited (ASX:SGT) announced that its Australian wholly owned subsidiary, Optus Mobile Pty Limited, has entered into a conditional agreement to acquire the shares of Vividwireless Group Limited from Network Investment Holdings, a wholly owned by Seven Group Holdings Limited (asx:svw), for an expected cash consideration of A$230 million.
Optus will gain the Vividwireless and Unwired businesses, its customer base, spectrum licence and existing 4G network. The purchase will also give Optus 98 megahertz of spectrum in the 2.3 gighertz frequency, a band already used by some of the world’s leading operators to provide 4G services.
The Transaction is subject to a number of conditions, including the reissue of Vividwireless’ 2.3GHz spectrum licence and approval from the ACCC and Continue reading
14th Feb 2012. Brisbane-based Freight aggregator Temando, has secured a A$5m investment from James Packer’s investment fund, Ellerston Capital. Terms have not been disclosed. Temando is forecast to be profitable this year and the fund injection from Ellerston will give it additional capital to expand.
“The recent investment by Ellerston Capital in Temando gives us both the financial resources and the ability to attract seasoned executives to work with the business, allowing us to take things to the next level,” says Carl Hartmann, Managing Director, Temando.
The investment follows on from Packer and Ellerston Capital’s 2011 investments into online retailers DealsDirect (understood to be $10m for a Continue reading
10th Feb 2012. UXC Limited (ASX:UXC) has announced that it’s wholly owned subsidiary Red Rock Consulting has completed the acquisition of all the shares of Aukland-based JD Edwards Consulting firm Jireh Consulting Services Ltd (Jireh).
Terms for the acquisition have not been disclosed however UXC advised it to be immediately accretive to earnings per share. The consideration is payable in a combination of cash and shares. A portion of consideration has been deferred contingent Continue reading
2nd Feb 2012. New Zealand listed cloud-based accounting software Xero (NZE:XRO) has taken full ownership of leading Auckland based software developer Max Solutions Holdings Limited to help provide a full suite of online tools to accountants, enabling them to operate without expensive in-house servers.
Xero already owned 15.9% and it has agreed to pay $2 million cash and $4 million of Xero shares for the remaining 84.1%. The shares will vest over three years.
Based in Auckland, Max Solutions was founded in 2007 Continue reading
30th Jan 2012. In response to the increased demand for SAP business intelligence design and implementation services, Deloitte Consulting has announced the joined by the team from the well regarded SAP BI services firm, Logro. Terms were not disclosed.
Five full time people will join Deloitte Consulting in Melbourne as well as three casual project contractors.
Logro designs and implement SAP Continue reading
23rd Jan 2012. Diversified news and media firm APN (ASX:APN) has taken a 25% stake in Friendorse following a successful trial of the start-up. Friendorse is a neighbourhood-based community recommendations web service for local businesses.
According to Smartcompany magazine, APN chief development officer Matt Crockett said APN only took a 25% stake in Friendorse because Continue reading
22nd Dec 2011. Leading Australian ISP iiNet Limited (ASX: IIN) has entered into binding documentation to acquire Internode Pty Ltd (Internode) and associated companies, Australia’s largest privately owned broadband services company, for $105 million. Based in South Australia, Internode has approximately 260,000 active Internet and phone services, including approximately 190,000 broadband subscribers.
The acquisition, which will be funded through a mixture of cash and scrip, will boost iiNet’s customer base by 190,000, taking its total number of subscribers to just under 900,000 or about 15.5 per cent of the broadband market. Those figures firmly cement iiNet as the clear third force in the Australian telecommunications market behind Telstra and Optus, and places the company within touching distance of current No2 Optus which boasts about one million broadband customers.
The acquisition is the second that iiNet has made in the past month. In late November, it paid $60m to acquire Continue reading
22nd Dec 2011. South Australia-based Codan Limited (ASX: “CDA”) has reached agreement to acquire all of the shares in Perth-based mining communications and technology company, Minetec Pty Ltd (Minetec), from the Company’s founder and partner for an up-front cost of $6 million. The acquisition is scheduled for completion on 3 January 2012, with $4 million in additional payments if certain earn-out targets are achieved over the next two and a half years.
Minetec is forecast to deliver approximately $1 million EBITDA (excluding integration costs) from $9 million of revenue in the six months to 30 June 2012. The acquisition will be funded by Codan’s existing debt facility and is anticipated to be earnings Continue reading