Mergers and acquisition activity is coming thick and fast in the tech sector with online recruitment platform SEEK boosting its stake in OCC Mundial and SeekAsia in a deal worth $125 million. Melbourne IT has announced a majority shareholding in Outware Systems, while Telstra has announced a majority investment in e-commerce platform Neto and financial markets software maker Iress has acquired personal finance content provider Innergi for an undisclosed sum.
Commentary
Finance News Network spoke with solar panel innovator Dyesol. The company’s Managing Director Richard Caldwell explained the company’s progress with its third generation solar cells. Mr Caldwell explained that their focus offshore is paying dividends as local support for renewable disappears:
Richard Caldwell: “The conditions in Australia have been challenging for renewable energy companies, but it’s not a showstopper. And in fact, as the technology develops and improves, we feel that we can succeed in the absence of Government.”
“One of the main problems presented by the Government’s position, at least the current Government, is the fact that it’s very difficult for investors to assess the benefit of investing in an Australian renewable energy company. Which is why Dyesol not only operates in Australia, but has a very broad international reach and looks to develop its technology in other markets, beyond Australia.”
Renewable energy options are a dynamic field and Dyesol appears well placed;
Richard Caldwell: “I think we dual track our commercial plans and our technology development plans. Each quarter we publish our technology milestones and they’re coming along brilliantly. In the last few weeks, we’ve published stability and durability results, which are world’s best. And on the commercial front, we hope to announce a similar commercial development to that we have in Turkey and another major location, over the years, so exciting developments for shareholders to look forward to.
See the whole interview
here:
Tech growth
Mobile Embrace Limited
(ASX:MBE) has invested in leading cashless transaction app developer Clipp. Mobile Embrace now owns 31 per cent of Clipp with another $3.5 million of convertible notes issued which if drown would take MBE to 72 per cent ownership. The deal will accelerate Clipp’s growth across the $40B hospitality industry.
Encryption hardware company Senetas Corporation Limited
(ASX:SEN) has won its first contract to develop a customised encryptor. The company says it will fit the market’s demand for high speed encryption and generate opportunities for sales in international markets.
Downer EDI Limited
(ASX:DOW) have been awarded a 5 year contract with NBN. The deal is to link the NBN from main network exchanges to homes, apartment blocks and copper nodes. Work begins July 1 and is worth about $100 million for the first year of the contract.
M&A action
SEEK Limited
(ASX:SEK) will boost its stake in OCC Mundial and SeekAsia in a deal worth $125 million. The online job seeker company says its ownership in OCC will jump from 56 per cent to 98 per cent, while its SeekAsia stake grows from 76 per cent to 80 per cent. The company sees both companies as clear market leaders with favourable growth forecasts.
Melbourne IT Limited
(ASX:MLB) has announced a majority shareholding in Outware Systems with an option to buy the company outright within the next two years. Melbourne IT will pay $21.7 million for 50.2 per cent of the privately owned app developer. The transaction will allow Melbourne IT, a leading cloud software provider to deliver a complete and comprehensive enterprise solution for business and positions the company as a leader in a fast-growing segment of the technology industry.
Telstra Limited
(ASX:TLS) have announced a majority investment in e-commerce platform Neto. The fast-growing Brisbane-based company started four years ago and provides cloud-based software that allows small to medium businesses to almost instantly create and manage an online store.
Crowd Mobile Limited
(ASX:CM8) has announced it will buy the Netherlands based Track Concepts, a leading M-payments network and technology platform. Track Concepts operates across 140 mobile carriers in 38 countries. The deal is still subject to due diligence and funding approvals.
Iress Limited
(ASX:IRE) has acquired personal finance content provider Innergi for an undisclosed sum. The financial markets software company says Innergi is based in Australia and builds linkages between funds and financial advisors and their clients through relevant content. Innergi’s Managing Director Robert Skinner will move over to Iress along with the rest of his team from the 1st of July.
