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
 
 
IAG hands digital chief his own ‘Labs’ division
Enterprise ops chief squeezed out in restructure.
 
 
Sign up to receive iTnews email bulletins
   FOLLOW US...
Latest Comments
Polls
Should law enforcement be able to buy and use exploits?



   |   View results
Yes
  14%
 
No
  51%
 
Only in special circumstances
  17%
 
Yes, but with more transparency
  18%
TOTAL VOTES: 809

Vote