ASX Archives

ASX

Logistics giant Wisetech Global just gobbled up another tech startup for $327 million

Simon Thomsen - January 25, 2023 2 MIN READ

ASX-listed shipping platform WiseTech Global has acquired yet another tech company, snapping up the US logistics management software startup Envase for US$230 million (A$327m). Founded in 2020, Envase Technologies supplies transport management system software for intermodal trucking and landside logistics in North America. The acquisition deal is with private investment firm Firmament, and several other… Read more »

ASX

RBA and ASIC rip into the ASX after dumping its $250 million blockchain experiment

Denham Sadler, Information Age - November 22, 2022 3 MIN READ

The Australian Stock Exchange has pulled the pin on its much-vaunted blockchain project after seven years of work and at a loss of about $250 million. The ASX has been working with tech firm Digital Asset (DA) to develop a replacement for its Clearing House Electronic Subregister System (CHESS) based on distributed ledger technology since the… Read more »

ASX

Mike Cannon-Brookes just had a massive win in his battle for the soul of energy giant AGL

Simon Thomsen - November 15, 2022 2 MIN READ

Renewable energy activist Mike Cannon-Brookes has succeeded in his campaign to shake up the board of energy giant AGL with shareholders voting at today’s annual general meeting to appointment four new directors to the AGL board on the recommendation of the Atlassian cofounder’s family VC firm, Grok Ventures. Former Energy Security board chair Kerry Schott,… Read more »

ASX

Elmo Software shares pop 28% on takeover talks

Simon Thomsen - October 13, 2022 < 1 MIN READ

Shares in ASX-listed Elmo Software (ASX: ELO) soared on Wednesday after the company confirmed it was in potential takeover talks. After stories emerged in the financial press that Accel-KKR was once again back in discussions with the HR, payroll and expense management, the company issued a “Response to Media Speculation” statement to the ASX mid-morning… Read more »

ASX

Corporate regulator ASIC takes Nuix to court over alleged misleading sales figures

Simon Thomsen - September 30, 2022 2 MIN READ

The Australian Securities and Investment Commission has launched Federal Court legal action against ASX-listed tech company Nuix and its board for alleged breaches of disclosure laws, as well as misleading or deceptive conduct around growth predictions, in the wake of the company’s IPO in December 2020. ASIC alleges that Nuix (ASX:NXL) made misleading or deceptive… Read more »

ASX

Pharma giant Pfizer wins over telehealth startup ResApp Health with $179 million takeover

Simon Thomsen - September 28, 2022 2 MIN READ

The battle for ASX-listed ResApp Health Ltd is over with pharmaceutical giant Pfizer acquiring the telehealth startup for $179 million. The deal went through this week, having started back in April this year when Pfizer initially offered $100 million – 11.5 cents a share – before increasing its bid to 20.8 cents. Shareholders approved the… Read more »

ASX

Atlassian boss Scott Farquhar ups takeover bid by 9% to win ASX-listed Genex Power

Simon Thomsen - August 17, 2022 2 MIN READ

Atlassian billionaire Scott Farquhar and his venture capitalist wife Kim Jackson look set to win control of ASX-listed Genex Powerafter upping its takeover bid for the renewable energy company. The Genex (ASX: GNX) board rejected a $0.23 cents per share offer made in late July on August 1, but left the door open for a… Read more »

ASX

ASX-listed Nearmap is suddenly worth $1 billion again thanks to a US takeover bid

Simon Thomsen - August 15, 2022 2 MIN READ

Mapping software company has seen its shares pop by a third on Monday after revealing that it had been in takeover talks with US private equity company Thoma Bravo. The takeover price of $2.10 cash per share values the business at around $1.055 billion and is an 83% premium to Nearmap’s closing price of $1.15… Read more »

ASX

ASX-listed iSelect throws in the towel, selling to rival in takeover priced at a 15% of its IPO market cap

Simon Thomsen - August 11, 2022 2 MIN READ

Nine years after it listed on the ASX as one of the 2013’s biggest floats, the board of comparison website iSelect has agreed to sell the business to rival Innovation Holdings Australia (IHA), owner of Compare the Market, in a deal that values the business at $72 million. Startup investor Thorney Investment Group, which has… Read more »

ASX

Genex Power rejects Atlassian founder’s $320 million takeover bid as undervaluing the renewable energy company

Simon Thomsen - August 1, 2022 2 MIN READ

The board of ASX-listed Genex Power Limited (ASX: GNX) have rejected a takeover bid by Altassian co-founder Scott Farquhar as undervaluing the business. Last Monday, after building up a 19.9% stake in Genex via a consortium controlled by Skip Capital, the family VC run by Farquhar’s wife Kim Jackson, in a partnership with US alternative… Read more »

ASX

Power Play: Genex shares pop 45% on takeover bid from Atlassian founder’s VC fund

Simon Thomsen - July 26, 2022 2 MIN READ

Two months after Mike Cannon-Brookes made an audacious but ultimately doomed takeover bid for AGL, his Atlassian co-founder and co-billionaire Scott Farquhar is making his own energy play with a $320 million tilt at ASX-listed Genex Power Limited (ASX: GNX). Genex shares jumped as much as 50% on the news on Monday before closing 45%… Read more »

ASX

Mike Cannon-Brookes doesn’t rule out 3rd AGL takeover bid amid board seats push

Simon Thomsen - May 31, 2022 2 MIN READ

Atlassian founder Mike Cannon-Brookes is looking for a place at the AGL board table after routing the company’s CEO and chairman and derailing the company’s demerger plan, and may make a third takeover bid for Australia’s biggest energy supplier. Cannon-Brookes spent around $650 million through his family venture capital firm, Grok Ventures, to take an… Read more »

ASX

Mike Cannon-Brookes hands over $600 million in cash in AGL fight

Simon Thomsen - May 18, 2022 2 MIN READ

Tech billionaire Mike Cannon-Brookes has spend $650 million via his family investment firm, Grok Ventures, for his stake in AGL, including $600 million in cash and $50 million in debt. The Atlassian co-founder and co-CEO is waging a public campaign to stop a demerger plan for Australia’s biggest energy company. While the initial stake was… Read more »

ASX

The Bachelor star Sam Wood sells his fitness app for $71 million

Simon Thomsen - May 10, 2022 2 MIN READ

It’s been a big week for former The Bachelor star and fitness advocate Sam Wood, who last week welcomed the birth of his third child and sold his fitness app ‘28 by Sam Wood’ in a $71 million (US$50m) deal with Melbourne tech company myDNA. Wood, 41, had his third daughter, Harper, with wife Snezana… Read more »

ASX

Year-old ANU startup Vai Photonics navigates $40 million acquisition deal

Simon Thomsen - May 5, 2022 2 MIN READ

Vai Photonics, a Canberra startup spun out of Australian National University last year to help vehicles navigate independently of GPS, has been acquired by Sydney tech company Advanced Navigation in a deal believed to be worth up to $40 million. Founded by physicists Lyle Roberts and James Spollard to commercialise their research, Vai Photonics has a… Read more »

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