Siltek locks down Prion acquisiton
Siltek Asia Pacific last week completed its acquisition of Prion Technology, sealing the lid on a move that has created another significant force in the distribution market.
The move comes exactly one month after the two companies officially announced their merger intentions.
According to Siltek AP's new managing director, Hugh Evans, the message for the market is that Prion will still operate as a separate entity despite the fact it will share a common management and IT infrastructure with the other Siltek companies: Agate Technology Australia and New Zealand, Siltek Communications Australia, printer specialist CIE Pacific, and Advance Pacific Peripherals.
The Siltek Asia Pacific group now comprises a company with combined revenues of around $350 million per annum.
Informix to acquire Ardent
Database vendor Informix announced last week a definitive agreement to acquire data warehousing provider Ardent Software in a stock swap deal valued at $US880 million.
Under the terms of the agreement, approved by both companies' boards of directors, each outstanding Ardent share will be exchanged for 3.5 shares of Informix common stock, the companies said in a joint statement.
By joining forces, Informix and Ardent aim to become a software infrastructure provider for the Internet economy, the companies said.
ICSGlobal the latest to list
Yet another local IT company has announced its intentions to list on the Australian Stock Exchange. IT consultancy and solutions company ICSGlobal plans to raise $6 million through an ASX listing early next year.
The initial public offering (IPO) of six million one-dollar shares, or 23 per cent of the company, opened last week and will close on December 29. It will be ready for listing in the first week of January 2000.
ICSGlobal provides large companies with IT solutions for internal and external business requirements, such as the integration of industrial or manufacturing technology with office computer systems, or the introduction of the GST.
Net hysteria hits Milan
The Milan stock market is getting over its first acute bout of Internet mania, sparked by the astonishing success of the IPO of Finmatica, a company specialising in financial software.
Shares in the company were offered for sale for the first time last Wednesday at a price of 5 euros ($US5.10) per share. On Thursday the price reached 40 euros, an increase of 700 per cent, as investors scrambled to join the gold rush and Finmatica officials exulted, touting the sharp rise as a record for the Milan bourse.