After our recent publicity about the Infosys outsourcing deal, South East Water has responded to our publicly raised questions. The answers are in today's Chatroom column.
Regional telco service provider S P Telemedia (ASX:SOT) is to acquire the assets and business of Comindico from the receivers, McGrath Nicol, for what it describes as a fraction of their original value. Comindico, which spent $400 million on establishing its network over four years, went into voluntary administration last month, after running out of cash. Peter Walker and Steve Sherman of Ferrier Hodgson, appointed as voluntary administrators of the group of companies, said at the time that Comindico could be sold off as a going concern.
Accounting software vendor, MYOB (ASX:MYO) has forecast a 40% increase in revenue and 35% increase in EBITDA for 2004. For the full year to 31 December 2004, MYOB expects revenue of around $124 million and expects to increase its profit margin further in 2005, after describing successful progress in the integration of the Solution 6 business, which was merged into MYO in August. In a statement to the ASX, MYO claimed that the merger would provide synergies of $10-12 million per year within three years.
Networking software provider, Mobilesoft Ltd (ASX:MSO), has signed a contract with Bank of Western Australia Ltd (BankWest) for the continued supply of EFTPOS support. The $1 million contract will run until 31 October 2005.
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.
Automation software provider, Citect, (ASX: CTL), has won a $2.6 million, contract with China Gas Company Limited, to control and monitor gas distribution to 5.5 million households in seven mainland cities.
Dual NASDAQ and ASX loyalty marketing POS software specialist, Catuity Inc (ASX:CAT) has approved a reverse 15 to 1 stock split in order to stay listed on the NASDAQ small cap exchange. In order to remain listed on NASDAQ, a company lust maintain a minimum share price of US$1. However, CAT share price has languished ever since losing its major retail customer in the US Target Corporation and now sits at US30c and A37c on the NASDAQ and ASX.
Junior full service telco, People Telecom (ASX:PEO), has appointed Annalisa Haskell as director, consumer marketing. Haskell joins People Telecom after having worked in marketing for organisations such as St George Bank, NRMA Insurance, American Express Australia, Cable and Wireless UK, Cable and Wireless Optus and ASB Bank NZ Ltd. Hermost previous role was one year as strategic marketing director for advertising agency, Publicis Mojo. Prior to that, she was head of marketing for the priority customer segment at St George Bank Ltd, and also held the role of customer and product marketing manager for NRMA Insurance (IAG).
Back in 2000, Microsoft created a stir when it entered the ERP space through the acquisition of a small (by US standards) NASDAQ listed company, servicing the SME market, called Great Plains Software. Then just two years later, the big software Kahuna, did it again by acquiring Danish enterprise software outfit, Navision along with its flagship product, Axapta.
The word we have is the announcement from ICT research organisation, Meta Group, that it has taken its PR function back in-house is a cost cutting measure. Meta, which severed a longstanding relationship with Sydney-based PR outfit Markom Marketing last week, is cutting costs globally according to industry sources and Markom is the latest victim. One source suggested that Meta may be doing it tough but we're not sure if that's the case. Remember, Gartner has an in-house PR function in Australia and somehow we don't think they're doing it tough.
Legal software developer SoftLaw Corporation Ltd (ASX:SLC) has appointed Surend Dayal as chief executive officer, effective immediately. Dayal replaces Keith Andrews, who resigned earlier this month, and is a long-standing employee of SLC. He was appointed chief operating officer of the company after returning to Australia from the UK, where he was general manager of SLC's UK office. Dayal will be paid a fixed salary of $200,000 per year, including superannuation.
Wealth management software group, IWL Limited (ASX: IWL) announced a strong performance in the first quarter of the current financial year, recording robust, double digit growth in both operating revenues and underlying earnings.
ICT recruiter, Candle Australia Limited (ASX:CND), has completed its acquisition of library, archives, records management and knowledge management recruiter, The One Umbrella.
National Australia Bank has announced an agreement with Computershare (ASX:CPU) to outsource the provision of share registry services. Computershare already supported the National's internal share registry operations by providing systems for managing the share registry, document mailing and AGM services. Staff previously employed by the National's share registry will take up positions with CPU.
Wireless hardware developer, Cape Range Wireless (ASX:CAG), finished the September quarter with just $76,000 in the bank, after going backwards by more than $1.5 million. CAG issued a statement to the ASX, saying that it was in negotiations for further equity and debt funding to raise cash for to meet its ongoing working capital requirements, details of which would be provided to shareholders soon. The market appeared to be satisfied because CAG shares rose more than 10% to close on 3.9c in moderately high volume trading.
Byte Power Group Limited (ASX:BPG) will be setting up a new subsidiary in China. The new Byte Power subsidiary will be created to primarily assess and execute the e-kiosk internet network project which was announced to the market on 1 October 2004.
Soundcard hardware vendor, Creative Labs, and Australian online media portal ninemsn have formed an alliance to offer 95c music downloads for customers who buy a Creative Digital Audio Player.
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