ShareChat sold to Australian company, Iguana2
16/05/2001 For Immediate Release
New Zealand investor website ShareChat sold to Australian company, Iguana2
ShareChat, (http://www.sharechat.co.nz/) one of New Zealand's most popular sharemarket information websites, today announced that it has been acquired by Iguana2, an Australian company majority owned by the Solution 6 Holdings Limited.
Managing Director of ShareChat, Ben Dutton, says he is delighted by the sale, which will enable ShareChat to expand its array of both consumer and corporate services.
"Even though we have only been operational for less than two years, ShareChat has established itself as New Zealand's top destination on the web for sharemarket investors," Mr Dutton says. "This acquisition will result in significant operating synergies between ShareChat and Iguana2, enabling us to launch better services for our consumer and corporate clients."
Mr Dutton also noted ShareChat's recent move into the area of providing Investor Relations services for listed companies.
"It makes sense for ShareChat to work together with Iguana2 in providing these services. Indeed, the two company's have very similar cultures - we are both passionate about providing quality information and services for investors and companies."
Iguana2 is a major provider of sharemarket data, trading systems and Investor Relations products. COO Adam Rands says he sees significant future benefits for Iguana2 with the acquisition of ShareChat.
"ShareChat offers us an excellent platform on which we can sell consumer products to New Zealand investors," Mr Rands says. "We are also very interested in ShareChat's new Investor Relations products, which complement our own offerings."
Mr Rands dismissed suggestions that Internet businesses were unviable.
"ShareChat has built its market position with virtually no advertising - prudent management and hard work is why they've been successful," he says.
ShareChat visitors will shortly see some new additions to the ShareChat website, including a new sharemarket data platform, and an Australian version of the website.
Mr Dutton says he is excited about ShareChat's future prospects under its new owner.
"We are looking forward to being able to leverage off Iguana2's considerable experience in the field of sharemarket information and Investor Relations. The future is bright for one of New Zealand's dot.com's," says Mr Dutton.
For further information please contact:
Ben Dutton Managing Director, ShareChat Ltd Phone: 64 (0)3 374 5682 Mobile: 64 (0)21 639 573 Email: firstname.lastname@example.org Web: http://www.sharechat.co.nz/
Adam Rands COO, Iguana2 Phone: 61 2 9211 0255 Mobile: 61 410 448 262 Email: email@example.com Web: http://iguana2.com/
ShareChat was launched as a sharemarket portal for New Zealand investors in August 1999 by Ben Dutton and Will Bryant and quickly established itself as New Zealand's leading sharemarket information website. Following an injection of venture capital in April 2000, ShareChat expanded its services, offering news, market data, discount share trading and more. The website receives around 50,000 visits a month from active investors and is widely recognized as providing comprehensive coverage of the national and overseas sharemarkets.
Solution 6 Iguana Pty Ltd trading as Iguana2 is an innovative and fast growing sharemarket information service provider based in Sydney, Australia and majority owned by Solution 6 Holdings Limited. Iguana2 offers services to brokers, media companies, fund managers, portals and private investors. Iguana2's clients include some of Australia and New Zealand's largest sharebrokers and companies, including Access Brokerage, Telstra, Fletcher Building, Telecom, Bank of New Zealand and Wilson and Horton. Iguana has a strong commitment to Open Source Software and is currently undertaking interesting developments with WAP, SMS and Handheld devices.
About Solution 6 Group
The Solution 6 Group is a leading provider of information technology (IT) solutions for business, government and professional advisers. The Group delivers professional and business software, IT services and a range of e-business and knowledge management solutions - all designed to help make IT easier for its customers. The Solution 6 Group provides end-to-end solutions for five key markets including accounting, legal, global practices, small, medium and larger business, and Government. Established in 1981 and listed on the Australian Stock Exchange in 1987, the Solution 6 Group is an Australian-owned company with a global presence. Headquartered in Sydney, Australia, the Group is one of the market leaders in global practice management solutions. The Solution 6 Group employs over 1600 IT professionals worldwide in 36 offices, across 13 countries. The Group maintains strategic partnerships with IBM, Lotus, Microsoft, Telstra and Vignette.