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Hostworks acquisition finalised
10 Mar 2008
Broadcast Australia has today completed its acquisition of critical application and hosting provider Hostworks Group Limited (Hostworks).
Broadcast Australia's Managing Director Graeme Barclay said that the combined group would be a "force to be reckoned with" in the marketplace.
"There are many benefits that Hostworks and Broadcast Australia will gain through this acquisition. With our approach and capabilities, we will strengthen our ability to provide connectivity in a multiplatform world, between owners of content and the community.
"This acquisition will be a win-win for both organizations. Being able to service the on-line media market and provide critical applications support is a natural fit with the existing activities of Broadcast Australia. Hostworks is already a market leader in Australia and we look forward to helping them develop further in both the domestic and international marketplace. " Mr Barclay said.
Established in 1998, Hostworks is a leading critical application service provider. It is responsible for managing the availability, performance and running costs of its customer's critical business applications by selling specialist services designed to ensure IT operations excellence. Existing customers include ninemsn, American Express, Sony, Ticketek, the ABC, SBS, AAMI, SKY News and Network Ten. Hostworks shareholders showed overwhelming support for this acquisition, with 99.06% of votes cast in favour of the scheme of arrangement at a meeting in mid-February.
The Hostworks Board of Directors have been nominated by Broadcast Australia and include Chairman Graeme Barclay, Managing Director Marty Gauvin, Peter Shore, Malcolm Keys and Brett Savill.
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