Friday, 30 July, 2021 - 15:45
Local IT business receives $30m takeover offer
Cirrus Networks has become the second Perth-based IT services firm to receive a takeover offer in recent weeks, after Victoria's Webcentral Group made an on-market bid.
5G Networks Limited (ASX:5GN) formerly Webcentral Group and ARQ Group, is a full-service digital marketing agency to small and medium business, enterprise and government clients. Services include domain names, web hosting, web design, search engine marketing, online tools for business and management of complex web environments.
Webcentral merged with Victorian telco 5G Networks in July 2021.
Rank | Company | # | |
---|---|---|---|
462nd | - | 5G Networks Limited | $96.17m |
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NEW ROLE: John Stevens, | 11 Nov 2022 |
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NEW ROLE: Brendan White, | 04 Nov 2021 |
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NEW ROLE: Garry White, | 04 Nov 2021 |
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NEWS: Tagged in Tensions rise over tech takeover | 06 Oct 2021 |
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NEWS: Tagged in Stop the theft: Cirrus on Webcentral takeover | 04 Oct 2021 |
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NEWS: Tagged in Expert deems offer for Cirrus ‘unreasonable’ | 08 Sep 2021 |
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NEWS: Tagged in Everingham threatens resignation from Cirrus | 03 Sep 2021 |
Cirrus Networks has become the second Perth-based IT services firm to receive a takeover offer in recent weeks, after Victoria's Webcentral Group made an on-market bid.
The board of Cirrus Networks has rejected what is calls an inadequate takeover bid from Webcentral Group that valued the Perth-based IT services business at about $30 million.
Cirrus Networks' board has continued to reject a takeover proposal made by Webcentral Group, which is now seeking to remove three directors of the local IT services firm.
Paul Everingham has revealed his intention to leave Cirrus Networks if shareholders vote in favour of appointing two directors from unsolicited bidder Webcentral Group.
The board of Cirrus Networks has continued to reject an unsolicited takeover proposal from Webcentral Group, after an independent expert deemed the offer unfair and unreasonable.
The board of Cirrus Networks has pleaded with its shareholders to reject what it described as a hostile takeover offer by Webcentral Group, calling on them to “stop the theft”.
A hostile takeover of local IT services firm Cirrus Networks has escalated, after its Victorian bidder alleged the target made a number of inaccurate statements that could mislead shareholders.
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