Story image

Invigor sells services business, refocuses on core

02 Feb 2016

Invigor Group is selling its services business to Sydney-based Asmex Digital in a deal valued at up to $500,000.

Gary Cohen, Invigor chairman and chief executive, says the sale of the services business will free up significant resources within Invigor and allow the company to focus fully on its key Insights Retail and Visitor products.

“The customers who will receive services from Asmex Digital will benefit from a better strategic fit with Asmex Digital’s areas of focus for the services being transferred.”

Asmex Digital specialises in providing technology services to small and medium businesses in Australia.

The services business was acquired as part of Invigor’s 2014 acquisition of Global Group Australia, but the big data solutions company says it is now ‘non-core’ to its activities.

The consideration for the sale is estimated at $180,000 based on expected revenue over the next 12 months.

A potential upside for further consideration is capped at $500,000, based on the value of the business unit’s performance over the next 12 months, Invigor says.

Oliver Adolphe, Asmex Digital chief executive, says the deal gives Asmex the ability to work alongside one of Australia’s leading groups in big data solutions allowing further synergies in the future.

Google puts Huawei on the Android naughty list
Google has apparently suspended Huawei’s licence to use the full Android platform, according to media reports.
Zoom Phone beta announced for local customers
Zoom is bringing its full Phone solution to Australia in July, but has launched a beta for us to try now.
AI driving 'unprecedented' M&A growth
Breakthroughs in artificial intelligence are causing ‘unprecedented’ growth for mergers and acquisitions, as companies grapple for their share of an AI market that will be worth $190 billion by 2025.
DimData: Fear finally setting in amongst vulnerable orgs
New data ranking the ‘cybermaturity’ of organisations reveals the most commonly targeted sectors are also the most prepared to deal with the ever-evolving threat landscape.
Seven Aussie projects shortlisted in IDC's Smart Cities Awards
The nominated projects include three from Newcastle alone and span smart water metering, solar farms, virtualization and transport.
Y Soft and Brother partner to enhance print management
YSoft SafeQ integrated print management and document capture solution is now embedded in Brother multifunction devices.
F5 acquisition of NGINX now complete
The companies have released blogs on the topic, explaining how NGINX will now operate as a unit of F5, and the benefits they expect this merger to bring.
IXUP goes "post-quantum" with security tech upgrade
The secure analytics company has also partnered with Deloitte as a reseller, and launched a SaaS offering on Microsoft Azure.