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


Media Technology on trail for Australian expansion

Media Technology on acquisition trail for Australian expansion

Listed digital media logistics company Media Technology Ltd (MTG) has signed a conditional agreement to acquire the Multimedia business of Sydney-based Microview Solutions Limited

The acquisition will see Media Technology expand its customer base throughout Australasia as well as adding new technologies to its disc replication services.

It marks a further expansion of the company’s Australian operations, which currently contribute over half the company’s revenue, and follows Media Technology’s expansion into Canberra to service a growing number of government contracts.

Media Technology CEO Allan Morton says “There is a great synergy between the two companies which have traditionally been competing in the same market.

Mr Morton says, “Even though the companies compete within the ‘disc’ arena, there are a number of differences in both companies’ offerings and there was little cross over within the account base. It allows us to widen our offering to a new range of clients currently not serviced by the group which holds positive advantages for Media Technology’s growth and Micro view’s clients.

Mr Morton adds: “The combination of both companies buying power, an extended range of services and efficiency savings on both sides, gives the NSW operation a larger market share and opportunity to become one of the dominant players within the Sydney & Canberra markets.”

Microview Solutions, which is listed on the Australian Stock Exchange, is based in Sydney and its staff will relocate to the nearby Media Technology’s premises over the coming weeks.

The $A450,000 deal includes the customer base, key employees, fixed assets, inventory, IP, business name and goodwill. It also includes a performance earn-out payable up to, and capped at, AUD$450,000 based on 12 months trading and achieving warranted revenues and key staff retention during this period.

The agreement is conditional on due diligence, employee contracts and completing MTG’s funding arrangements for the acquisition; Allan Morton expects all conditions will be met by 30 September.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Voluntary Administration: Renaissance Brewing Up For Sale

Renaissance Brewing, the first local company to raise capital through equity crowdfunding, is up for sale after cash flow woes and product management issues led to the appointment of voluntary administrators. More>>


Approval: Northern Corridor Decision Released

The approval gives the green light to construction of the last link of Auckland’s Western Ring Route, providing an alternative route from South Auckland to the North Shore. More>>


Media Mega Merger: Full Steam Ahead For Appeal

New Zealand's two largest news publishers have confirmed they are committed to pursuing their appeal against the Commerce Commission's rejection of the proposal to merge their operations. More>>

Crown Accounts: $4.1 Billion Surplus

The New Zealand Government has achieved its third fiscal surplus in a row with the Crown accounts for the year ended 30 June 2017 showing an OBEGAL surplus of $4.1 billion, $2.2 billion stronger than last year, Finance Minister Steven Joyce says. More>>


Mycoplasma Bovis: One New Property Tests Positive

The newly identified property... was already under a Restricted Place notice under the Biosecurity Act. More>>

Accounting Scandal: Suspension Of Fuji Xerox From All-Of-Government Contract

General Manager of New Zealand Government Procurement John Ivil says, “FXNZ has been formally suspended from the Print Technology and Associated Services (PTAS) contract and terminated from the Office Supplies contract.” More>>