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Construction needs cloud flexibility
Australia’s embattled construction sector could benefit from cloud based information systems that can be switched on and off in lockstep with individual projects – with the exception of those organisations based in remote areas like the Kimberleys.
read moreMidware sells off half of its subsidiary for $1.5m
Stan Beer
Monday, 01 November 2004 14:04
Midware Limited (ASX:MIW) has signed an agreement to sell 50% of its subsidiary Midware Systems Pty Limited for $1.5 million to GlobalX Information Services Pty Limited.
Midware Systems is the professional services and software business of MIW focused on the Australian and SE-Asian professional practice market. The agreements provide GlobalX the opportunity to acquire the balance of the business for a minimum of $1.5m plus agreed net assets. GlobalX provides information searching services throughout for the legal market Australia.According to a MIW statement, both companies have the opportunity for close integration of their respective technologies, which would provide benefits to existing and new clients. GlobalX will assume day-to-day management of the business, MIW founder and managing director Mark Flack will remain as a director. MIW plans to change its name, subject to shareholder approval at the forthcoming AGM, to Affiance Group Limited, while its subsidiary will continue to operate under the Midware Systems name.
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