Destra to sell hosting division

By

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

Destra to sell hosting division
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.


Got a news tip for our journalists? Share it with us anonymously here.
Tags:

Most Read Articles

ATO considers AI coding assistance for 800 core developers

ATO considers AI coding assistance for 800 core developers

Westpac turns to AIOps and event-driven automation

Westpac turns to AIOps and event-driven automation

Suncorp deploys Duck Creek at AAMI

Suncorp deploys Duck Creek at AAMI

Transurban apologises after ACT drivers wrongly billed for Sydney tolls

Transurban apologises after ACT drivers wrongly billed for Sydney tolls

Log In

  |  Forgot your password?