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Fronde sells part of Fronde Anywhere
Fronde sells part of Fronde Anywhere
5 September 2008 - Fronde has entered into a material transaction related to a sale of a component of the business of Fronde Anywhere for settlement in October 2008.
The sale better enables Fronde Anywhere to take its mobile transactions offering to its world-wide market and the sale releases capital back into the business. In addition, the core New Zealand operations of Fronde Systems Group will continue to be engaged providing services to the purchaser.
The director’s of Fronde have always envisaged selling some or all of this investment once its value had been established.
More information will be released after the transaction has closed and settlement has been received in October 2008.
Issued by
Ian Clarke
CEO, Fronde Systems Group Ltd
ENDS
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