RMG takes 25% stake in data intelligence company
Thursday June 29, 2000: Receivables management and credit information company RMG Limited today announced the purchase of a 25% stake in business data intelligence company Atlantis Marketing Limited.
The announcement follows the successful completion of a $A25 ($NZ 31) million capital raising and the relisting on the New Zealand and Australian stock exchanges.
As part of the transaction, RMG has been granted options to increase its shareholding in Atlantis.
Atlantis has created proprietary systems for the collection, analysis and application of business information and has operations in New Zealand, Australia and throughout Asia.
RMG chief executive Paul Cooney today said the Atlantis purchase sits squarely within his company’s strategy of building the best credit information database in Australasia.
“Atlantis has pioneered the development of innovative data management tools. We can apply this unique technology across our existing databases to improve the quality of the information they hold, Mr Cooney said.
“Having big databases is important in our business. But having databases built with the correct information is absolutely crucial. Our relationship with Atlantis ensures that our credit and information services will be backed by the best business information available.”
Atlantis managing director Michael Whittaker said the transaction provided an exciting opportunity for growth.
“Atlantis has spent considerable resource developing quality database management expertise and skills. This link with RMG gives us the opportunity to take this intellectual property into other applications and different regions, Mr Whittaker said.
“By partnering with RMG, the largest receivables management operation in the Southern Hemisphere, we will provide information capabilities at a level not currently available elsewhere in the market.”
Mr Cooney said a number of strategic initiatives were currently under consideration and would flow from the relationship with Atlantis.
RMG Limited also announced that director John Tarrant had resigned effective immediately. John was associated with Frontier Petroleum (FRO). John will continue to pursue his interests in the mining industry. The Board would like to acknowledge John’s contribution to Frontier Petroleum and his support of the listing of RMG Limited.
RMG is the first trans-Tasman company to offer an integrated range of receivables, debt management, and credit reporting under a single umbrella. The company was formed by the merger of a number of receivables management companies in Australia and New Zealand. Services include traditional debt recovery and receivables management, credit information and database management services, debt purchasing, factoring, ledger management and complete outsourcing of a company’s receivables function through leading edge internet-enabled technology.
About Atlantis Marketing
Atlantis Marketing is an integrated direct marketing services company with operations in Auckland, Sydney and Singapore. It provides intelligent data through end-to-end data management, analysis and application services that bring significant added value to direct marketing activities. Atlantis Marketing’s client base includes government organisations and large multi-nationals involved in financial services, manufacturing and telecommunications.
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