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read moreOriel to acquire Value Chain International
Stan Beer
Wednesday, 20 September 2006 18:58
Page 1 of 2
Online payments services provider Oriel Communications Limited (ASX:OCO) has signed a Heads of Agreement seeking to acquire information management firm, Value Chain (International) Limited for shares worth up to A$40 million.On completion of the acquisition, former Infosys Australia founder and Chief, Ananda Rao, who heads Value Chain will join Oriel as Chief Executive Officer of the newly expanded company.
Following the merger, a share consolidation and capital raising of A$12 million, including a proposed priority offer to existing shareholders, will be undertaken to fund expansion for the combined business. Value Chain has committed to provide further capital over a three year period, matching the proposed capital raising made by Oriel.
Value Chain is an Australian business headquartered in Melbourne that operates in the space of “Business Process Management” (BPM). Accordng to Value Chain, BPM facilitates the aggregation, processing and distribution of digital information in ‘real time’; by optimising manual business processes and offering monitoring and control of IT systems, to enable best practice client service delivery and corporate performance management.
On completion of the proposed acquisition, the combined company will be positioned as a Pan Asian information management and payment systems group with over 700 employees and offices in Australia, China, India, Singapore, Europe and the United States.
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