Telstra has revealed the addition of almost one million new mobile services in the six months to December 2011, but Sensis revenues plummeted 24 percent in 12 months.
A proposed scheme of arrangement backed unanimously by the Hostworks board would see Broadcast Australia acquire all Hostworks shares for $A0.41 each.
This price represents a 37 percent premium on the previous closing price and a 17 percent premium on the media broker valuation.
A shareholder meeting to consider the offer is expected in mid February.
Marty Gauvin, Hostworks Managing Director, said "In the eight years since foundation, Hostworks has become recognized as Australia’s leading provider of managed services for on-line media and entertainment companies and management and hosting services for a broad range of critical applications. Broadcast Australia's proposal represents an excellent outcome for our shareholders as well as providing significant benefits for customers and employees."
The agreement between the two companies provides for a break fee of $A675,000 payable to Broadcast Australia in certain circumstances, including a rejection of the scheme by Hostworks' shareholders.
David Bass
| For the fourth year in a row, IDC has placed content security provider Websense (NASDAQ: WBSN) at the top of the IDC Worldwide Web Security 2011 –…
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