Telstra services arm Kaz has divested its interest in Perth-based Fundi Software via a management buyout.
KAZ first acquired Fundi in 2000. It then went on to integrate the IT services division of the business into KAZ, leaving the software development side as Fundi Software.
Kaz CEO Mike Foster said in a statement that despite its profitability, Fundi Software no longer fitted Kaz’s strategy of delivering ICT and IP services via the Telstra network.
KAZ would howver continue to maintain good relationships with Fundi and provide ongoing IT support, he said.
Fundi Software is best known for its enterprise systems software, while Fundi -as part of Kaz - specialises in enterprise infrastructure management.
Kaz divests itself of Fundi Software
By Staff Writers on May 2, 2006 11:25AM