Technology news and Jobs arrow Telecommunications arrow Destra to divest web hosting business
Destra to divest web hosting business E-mail
by Stuart Corner   
Wednesday, 08 November 2006
Destra Corporation (ASX: DES) is to sell its web hosting division to a new digital and interactive marketing communications company, BlueFreeway for an expected $18 million cash and approximately $2 million in BlueFreeway shares, pending a successful public float and listing of Blue Freeway on the ASX in late 2006 or early 2007.

Destra CEO, Domenic Carosa said: "The capital generated from the sale of destra Hosting will be used to further strengthen destra's balance sheet and used for acquisitions of profitable digital media businesses, which is in line with our stated corporate strategy."

Destra chairman Carl Olsen added: "It is the intention that BlueFreeway and destra will enter into a strategic alliance for co-marketing and reciprocal provision of hosting and communication services, as well as online media services. Destra board member, Paul Choiselat will join the BlueFreeway board on completion of the sale.

BlueFreeway is a recently formed digital and interactive marketing communications company which intends to offer a full suite of products and services. it was co-founded by CEO Richard Webb, formerly CEO of Citect a global industrial automation software company which was sold to French listed industrial conglomerate Schneider Electric earlier in the year.

Webb was formerly president of Asia Pacific and Latin America of Nielsen//NetRatings, a post he took on following the sale of the global web analytics and market intelligence company, Red Sheriff, which he lead for five years before selling it to Nielsen.

Webb said that BlueFreeway intended to consolidate a number of specialist interactive marketing agencies under the BlueFreeway brand. "The proposed acquisition of the destra Hosting business, with a customer base of around 13,000, provides BlueFreeway with the opportunity to cross-market and grow our technology platforms and digital and interactive marketing communication services."{moscomment}

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