Gina Rinehart’s mining business, Hancock Prospecting, has tipped $15 million into a $27.2 million capital raise by local medicinal cannabis venture Little Green Pharma. The raise comes as the five-year-old Western Australian ASX venture, which produce medical grade CBD and THC cannabis products for Australia, the UK and Germany, announced the acquisition of medicinal cannabis… Read more »
ASX-listed software company Nuix Ltd (ASX: NXL) has parted ways with its Chief Financial Officer, Stephen Doyle, with the company’s CEO, Rod Vawdrey, also announcing his retirement after the company recently revealed it will miss some of its prospectus guidance by tens of millions of dollars. Shares in the 20-year-old Sydney-based, global risk, compliance and… Read more »
Melbourne-based drinks business Mighty Craft has announced plans to buy South Australian producers Adelaide Hills Distillery, Mismatch Brewing and Hills Cider in a deal worth $47 million. The agreement also includes 75 % ownership of the popular LOT.100 venue, which is a destination distillery, cellar door, restaurant and function centre on an 84-hectare property near… Read more »
Melbourne customer engagement marketing company MessageMedia is being acquired by Swedish rival Sinch for US$1.3 billion (A$1.7bn). The deal is made up of US$1.1bn in cash and 1.126 million new shares in Sinch. MessageMedia offers mobile messaging solutions for SMEs in the US, Australia, New Zealand, and Europe, serving more than 60,000 customers and sending… Read more »
Shares in ASX-listed software venture Altium (ASX: ALU) jumped 40% after the company rejected an unsolicited $5 billion takeover offer from NASDAQ-listed multinational software behemoth Autodesk. The non-binding, indicative and unsolicited offer from for 100% of Altium at A$38.50 per share, by way of a scheme of arrangement, was rejected as “significantly” undervaluing the business,… Read more »
ASX-listed data security company IXUP Ltd (ASX:IXU) has scored a software bargain from the administrators of failed tech startup Data Republic, buying the data exchange’s intellectual property and IT for just $3 million. The purchase price represents a 94% discount to the almost $50 million Data Republic spent building the platform. The acquisition came from… Read more »
US tech workforce development venture Pluralsight will acquire online learning startup A Cloud Guru in a deal believed to be worth $2 billion. The sale is likely to be one of the biggest in local tech for the 5-year-old London-based startup. A Cloud Guru was originally built in a month in a Melbourne bedroom… Read more »
Xero’s Australia and Asia managing director, Trent Innes, has called time on his eight-years leading the ASX-listed venture. The cloud-based accounting platform’s executive GM of global sales, Joseph Lyons, will step up to the MD role to start the new financial year on July 1. Innes will remain in the business until September to oversee… Read more »
Restaurant tech venture Dragontail Systems (ASX:DTS) is being acquired by the US parent company behind KFC and Pizza Hut, Yum Brands, in a deal worth $93.5 million. Domino’s has been Dragontail’s leading customer in recent years. Its machine learning cameras monitor pizza quality and is the technology behind Domino’s Pizza Checker, as well as the… Read more »
Airtasker is tapping investors for more funds, seeking an additional $20.7 million just two months after raising $83.7 million during the company’s float on the ASX. The company (ASX: ART) is also spending A$3.4 million (US$2.6m) to acquire 10-year-old US services marketplace Zaarly, which has nearly 600,000 customers and 900-plus service providers, to accelerate its… Read more »
Shares in online retailer Kogan.com have plunged more than 13% to below $9 in opening trade on Friday after the company slashed its FY2021 earnings below market expectations in its latest trading update. While the business declined to offer forward guidance during its half-yearly results in February, today the business (ASX: KGN) said it expects… Read more »
The world’s biggest investor, New York firm Blackrock, is selling down ASX-listed fintech Afterpay as the company’s share price continues to head south. Afterpay (ASX: APT) lodged yet another ceasing to be a substantial shareholder notice for Blackrock today, after nearly five months of the investment firm dipping in and out of having 5% stake… Read more »
While plenty of investors wanted in on the ASX listing of tech-based labour hire and recruitment company, Hiremii, which raised $6 million at 20 cents a share in an oversubscribed IPO, it seems plenty also wanted out today. The Perth-based company’s share price tanked more than 25% on the opening day of trade to close… Read more »
Australia’s love of reading has seen quarterly sales at ASX-list online retailer Booktopia soar 53% in a year. The company (ASX: BKG) had already upgraded its revenue and EDBITDA forecasts for FY2021 just two months after listing last December and today released its March quarter figures, saying it was on track to meet the upgraded… Read more »
Data analysis company Nuix, which posted stellar rises its share price, doubling on the opening day of trade following its IPO in December 2020, is in trouble with investors today after its latest earnings guidance revealed the company is set to miss some of its prospectus guidance by tens of millions of dollars. Shares in… Read more »
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