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


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.

Editors’ notes:
About RMG

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.

For further information contact:

Paul Cooney
Telephone +613 9205 0711
Mobile +61 419 561 161

Atlantis Marketing
Michael Whittaker
Telephone +64 9 9809880
Mobile +64 (0)21 435 413

Botica Conroy & Associates
Michael Bartrom
Telephone +64 9 303 3862
Mobile +64 (0)21 403 503

© Scoop Media

Business Headlines | Sci-Tech Headlines


"Broad-Based Growth": GDP Rises 1 Percent In June Quarter

Gross domestic product (GDP) rose 1.0 percent in the June 2018 quarter, up from 0.5 percent last quarter, Stats NZ said today. This is the largest quarterly rise in two years. More>>


Judicial Review: China Steel Tarrif Rethink Ordered

On 5 July 2017 the Minister determined not to impose duties on Chinese galvanised steel coil imports. NZ Steel applied for judicial review of the Minister’s decision. More>>

Debt: NZ Banks Accelerate Lending In June Quarter

New Zealand's nine major lenders boosted lending at the fastest quarterly pace in almost two years as fears over bad debts subsided. More>>


Balance Of Trade: Annual Current Account Deficit Widens To $9.5 Billion

New Zealand’s current account deficit for the year ended June 2018 widened to $9.5 billion, 3.3 percent of GDP, Stats NZ said today. More>>