The decision to not conduct proceedings into 5G Network’s (5GN) acquisition of Webcentral under claims of “coercion” has been affirmed by the Australian Takeovers Panel after it declined to review its initial decision.
5G Networks is to ramp up its presence in Queensland with the purchase of a 3MW data centre in Brisbane.
The Australian Takeovers Panel has given 5G Networks the greenlight to acquire Webcentral Group after declining to pursue external claims of the former's “coercive” activity towards shareholders.
The head of 5G Networks has taken over the temporary leadership of Webcentral Group as it attempts to acquire the beleaguered IT services provider.
5G Networks has been accused of embarking on “coercive” activity towards its shareholders over its attempt to acquire Webcentral Group.
US company Web.com Group has increased its offer for the company formerly known as Arq Group, raising its bid to $18.9 million.
Webcentral Group has received a takeover proposal from Aussie ISP 5G Networks and has given previous contender Web.com a chance to match or beat the proposal.
Australian internet service provider 5G Networks has flagged a potential acquisition of Webcentral Group as it prepares to undertake a capital raising effort worth about $30 million.
The company formerly known as Arq Group has posted a significant loss for its half yearly results, dropping 1,217 per cent, as it faced a customer dispute and deep debt.
After another turbulent period, the company formerly known as Arq Group has flagged a 15 per cent revenue dip in its preliminary results.
US-based technology services company Web.com Group is to acquire the beleaguered Arq Group for around $12.2 million.
A new startup distributor has formally begun operations in the local market, with a focus on subscription-based cloud computing services.
Melbourne IT (ASX:MLB) chief operating officer (COO), Andrew Field, has resigned from his post after a decade of service.
Melbourne IT (ASX:MLB) key brand, WebCentral, has taken the wrappers off its online data protection product, Managed PC Backup.
ASX-listed Melbourne IT Group’s key brand, WebCentral, has unveiled its MiCloud software-as-a-service (SaaS) partner program to cater to market growth.
