Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Strathmore Increases Stake In CommSoft


Strathmore Increases Stake In CommSoft With $2 Million Injection

Acquires Additional 3.18%

AUCKLAND – 9 May 2000 – Internet and technology investment company, Strathmore Group Limited (NZSE: SMR) today announced it has paid $2 million dollars in cash as part of a pre-IPO round of funding to secure an additional 3.18% fully diluted interest in CommSoft Group Limited. This latest investment brings Strathmore’s stakeholding in the company to 38% and values CommSoft at over $60 million.

Strathmore Chairman, Phil Norman said CommSoft’s revenues and market share were growing more rapidly than forecast and that this had created strong interest from a number of institutions prepared to inject additional working capital to drive growth. “CommSoft’s success has been driven by strong market share and sales channels in New Zealand, Australia, the UK and South Africa. Its international presence, strong management team and established CMS and CRM software have made it an attractive prospect for investors looking to invest in a growth company in a growth industry,” says Norman. “Despite strong interest from other institutions to fund its expansion plans, CommSoft was keen to maintain the momentum of its existing relationship with Strathmore and looked to us to provide additional capital.”

“This latest investment fits with our ongoing strategy of allocating working capital to businesses that are meeting performance objectives for return on investment and market leadership in terms of cost competitiveness, technological strength and profitable growth.”

Geoff Wilding, CEO of CommSoft, said the company had experienced significant growth in the past year and Strathmore had demonstrated strong support by adjusting its funding in accordance with updated cash forecasts that reflected the higher costs and working capital requirements associated with this growth. “We have enjoyed a positive relationship with Strathmore over the past five months. This latest investment reflects the respect both organisations have for the management and operations of each other. We look forward to enhancing this relationship in the future by taking advantage of Strathmore’s financial strength, management expertise and global network.”

Commenting on recent marketplace speculation regarding a possible stockmarket listing by the company, Wilding said CommSoft is currently considering options related to raising further capital, one of which included a listing on the Australian Stock Exchange (ASX). “Warburg Dillon Read has been retained by the company to advise on capital raising alternatives. However at this time, we cannot comment on the form or timing of any future capital raising or whether or not the company will list on the ASX.”

About CommSoft Group Limited

CommSoft Group Limited is an international leader in the development of niche software products for the telecommunications industry. The company has grown rapidly since its establishment in 1998, with offices in New Zealand, Australia, Singapore, South Africa and the UK.

CommSoft develops and markets leading edge telecommunications software to help small to medium enterprises make better use of their telecommunications equipment through better cost management, increased staff productivity and improved customer service. Its products are sold by some of the world largest telecommunications suppliers.

More information on CommSoft is available on the web at

About Strathmore Group Limited

Strathmore Group Limited is a technology investment company with approximately $NZ 19 million of shareholders’ funds. It targets Internet, e-Commerce and information technology companies with potential to deliver accelerated growth in shareholder value by competing in global markets. It provides strategic advice, capital support, operational assistance, industry expertise and a network of relationships to assist technology companies to migrate internally.


© Scoop Media

Business Headlines | Sci-Tech Headlines


ScoopPro: Helping The Education Sector Get More Out Of Scoop

The ScoopPro professional license includes a suite of useful information tools for professional users of Scoop including some specifically for those in the education sector to make your Scoop experience better. More>>

Big Tax Bill Due: Destiny Church Charities Deregistered

The independent Charities Registration Board has decided to remove Destiny International Trust and Te Hahi o Nga Matamua Holdings Limited from the Charities Register on 20 December 2017 because of the charities’ persistent failure to meet their annual return obligations. More>>

57 Million Users' Data: Uber Breach "Utterly Preventatable"

Cybersecurity leader Centrify says the Uber data breach of 57 million customer and driver records - which the ride-hailing company hid for more than a year - was “utterly preventable”. More>>

Scoop 3.0: How You Can Help Scoop’s Evolution

We have big plans for 2018 as we look to expand our public interest journalism coverage, upgrade our publishing infrastructure and offer even more valuable business tools to commercial users of Scoop. More>>

Having A Cow? Dairy Product Prices Slide For Fourth Straight Auction

Dairy product prices fell at the Global Dairy Trade auction, retreating for the fourth straight auction amid signs of increased production... Whole milk powder fell 2.7 percent to US$2,778 a tonne. More>>


Statistics: Butter At Record $5.67/Block; High Vegetable Prices

Rising dairy prices have pushed food prices up 2.7 percent in the year to October 2017, Stats NZ said today. This followed a 3.0 percent increase in the year to September 2017. More>>


Science: New Research Finds Herbicides Cause Antibiotic Resistance

New University of Canterbury research confirms that the active ingredients of the commonly used herbicides, RoundUp, Kamba and 2,4-D (glyphosate, dicamba and 2,4-D, respectively), each alone cause antibiotic resistance at concentrations well below label application rates. More>>