Destra to sell hosting division

 

ASX-listed Destra is to spin off its Web Hosting division, Destra Hosting, to BlueFreeway.

ASX-listed Destra is to spin off its Web Hosting division, Destra Hosting, to BlueFreeway.

The deal, worth $20 million, is subject to BlueFreeway – a newly formed digital and interactive marketing company – successfully listing on the ASX.

The deal consists of $18 million in cash and $2 million in BlueFreeway shares.

Destra’s hosting business has a customer base of about 13,000.

In an ASX statement, Destra CEO Domenic Carosa said the funding injection would be used to strengthen Destra’s balance sheet and to fund acquisitions of profitable digital media businesses.

It is also expected that BlueFreeway and Destra will now enter a co-marketing and reciprocal hosting and communication services announcement.



Destra to sell hosting division
 
 
 
Top Stories
Soft drinks and SoftLayer: A solution for hard times?
Coca-Cola Amatil's CIO Barry Simpson shares his story of cost-cutting, outsourcing and why his software developers to ride around in delivery trucks.
 
Optus considers breaking net neutrality in Australia
May charge Netflix, OTT providers for premium service.
 
AGL restructure sees CIO depart
Owen Coppage to leave after ten years.
 
 
Sign up to receive iTnews email bulletins
   FOLLOW US...
Latest Comments
Polls
Do you support the Government's data retention scheme?

   |   View results
Yes
  11%
 
No
  89%
TOTAL VOTES: 2329

Vote