It’s all about Maximising Value
22nd March 2010, Megabuyte Newswire
The Megabuyte team will be spending the morning at the Megabuyte Forum workshop ‘Maximising Value – key considerations for attracting capital or a trade sale’. Guests at the event, who include around 40 company directors and investors in the sector, will hear from six experts in their respective fields with advice on how to achieve the optimum valuation on an trade exit, private equity fund raising or IPO. We are particularly pleased to have two of the UK’s leading investors presenting at the event; the inimitable Jon Moulton of Better Capital and Gervais Williams, Head of Smaller Companies at Gartmore and one of the most highly respected small cap fund managers in the City.
C&W’s divorce starts today
Cable & Wireless's long overdue divorce of its UK and Caribbean businesses takes its first step today, with existing shareholders receiving shares in the two new businesses: C&W Worldwide (confusingly, the UK business) and C&W Communications (the Caribbean, Panama, Macau and Monaco & Islands business). As we noted at the time of the demerger announcement (Premium Plus subscribers, see here) we won't be sad to see the back of such an illogical pairing of businesses, the result of years of ad hoc and opportunistic M&A and changes of strategy by C&W. Read more in Newswire Plus.
CSF IPO safely away
Whilst we are on the subject of overseas businesses, CSF, the Malaysian data centre business, has successfully completed its IPO, raising £28m at 55p per share to help fund a new data centre and working capital, with the new money representing 31.8% of the company. Cenkos Securities was broker and Nomad to the IPO.
As we noted last Wednesday (Premium subscribers, see here), CSF could be that rare beast: an overseas company listing on AiM that is a solid and successful company, and one which is listing in London for the right reasons (reaching investors who understand the data centre business). The company will be an interesting addition to our Hosting and Managed Services peer group, with a third of the Malaysian data centre market, with significant growth prospects in its home market and in the broader region.
Vyke CEO resigns after less than a year in the job
Mobile VOIP provider Vyke has announced that CEO Kim Berknov is standing down with immediate effect to pursue other business interests. Kim was appointed CEO in April 2009, having previously been a Non-Executive Director of the company, with the remit to strengthen the company’s London operations. Given Kim’s normal daytime job as a VC/ Turn Around Boutique (at Evergreen Capital Partners) and his intimate knowledge of Vyke, and given the increasing strategic interest in mVOIP assets (eg Google buying Gizmo and Telefonica buying Jajah), it would not be beyond the realms of possibility that Kim could be resigning to keep his options open! Read the full story in Newswire Plus.
SRT receives first major AIS Class A orders
Software Radio Technology has received its first major orders (and payment confirmation) for its new maritime AIS (Automatic Identification System) Class A modules, amounting to $1.46m, which we understand to be from two customers. Deliveries will commence in May 2010. This follows recent announcements concerning a distribution agreement in Japan and a $290,000 order for AIS modules from Turkey. The company’s bet on AIS looks increasingly to be paying off. Read full details in Newswire Plus.