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The US markets finished lower in a shortened trading session on Friday. The Dow closed down 154 points or 1.5% at 10,309, the S&P500 was down 19 points or 1.7% at 1091 and the Nasdaq was down 37 points or 1.7% at 2138.
Leading Australian retail food brand manager and franchisor Retail Food Group Limited (RFG) today announced that it had reached agreements by which the Brumby’s Bakeries master franchise territories for North Queensland and New Zealand will be reacquired and the Donuts Coffee & Muffins franchise system would be acquired.
“The Brumby’s North Queensland master franchise territory represents the best performing Brumby’s territory in Australia”, RFG CEO Tony Alford said during the Company’s AGM today, “further, acquisition of the New Zealand master territory completes the re-acquisition of all master rights in that country so that the whole of the network therein is now ‘company managed’”.
There are presently 37 outlets within the Brumby’s North Queensland territory and a further 19 outlets in New Zealand. “The transaction will deliver the equivalent in terms of EBIT contribution of an additional 26 new Brumby’s Bakeries outlets”, Mr Alford said. “Given the outlets forming part of the North Queensland and New Zealand master franchise territories already form part of the Brumby’s Bakeries system, integration of subfranchised outlets under RFG’s franchise service and operational support systems will be seamless in comparison to that which would apply if an independent network had been acquired”.
Mr Alford noted that the Company’s Donut King, Michel’s Patisserie, Brumby’s Bakeries and bb’s café franchise systems had continued to achieve positive growth in terms of weighted average weekly sales (2% YTD) and weighted average transaction values (3% YTD).
Hostech Limited (HTC) advises that it has reached agreement to purchase the assets of 5Star and OfficeLink+. Final contracts are currently being prepared by the parties. The addition of the 5Star and OfficeLink+ customer bases and accompanying annuity revenue streams add an exciting dimension to the business and will enable HTC to offer its customers a broader range of communications services.
Carlos Perez comes with an impressive track record in telecommunications having founded T3 Communications in January 2002 and then selling the company to Pacific Internet (Australia), in 2005. Carlos has been successfully involved in eight telecommunication start up operations in eight different countries. He has also held senior finance roles at other Australian publicly listed companies. Frank Bradicich is equally well credentialed as a long established sales professional in the industry. 5Star was formed in 2007 and quickly reached break even in late 2008.
Carlos Perez comments that “Hostech represents an exciting opportunity to deliver a greater array of communication products to SMEs through a single company while delivering excellence in customer service. The combination of a customer focused team and the Board’s commitment to cash accretive acquisitions will deliver sustainable value to shareholders.”
Ambertech Limited (AMO) has been awarded a contract with the State of Victoria, through Victoria Police, for the supply and installation of David Horn Communications (DHC) Digital Interview Recording Equipment, following a comprehensive tender evaluation process. The contract has an estimated value of over $9M over five years, with Ambertech having supplied $5M worth of equipment and services during the initial 12 months of the contract. Victoria Police have deployed over 500 units to date throughout Police Stations and other Victoria Police facilities and training establishments state wide as part of the Digital Evidence Capture (DEC) project currently in progress. The contract is part of the ongoing success story for the DHC Interview Recorders within Australia following on from Ambertech’s previous successes with other government organizations.
Adds Garrick Simeon, Corporate Marketing Manager, “The tender win reinforces Ambertech’s position as a market leader in supply and support for Australia’s Law Enforcement sector and Ambertech’s distribution of DHC products complements the quality offerings we offer to the Defence, Law Enforcement and Security (DLES) market nationally. Based in Bedfordshire just north of London, UK David Horn Communications is recognized as a market leader for providing innovative solutions to meet specific operational requirements for law enforcement and evidence and intelligence gathering organizations internationally. Ambertech is an acknowledged leader in the identification, supply and distribution of advanced technologies for the broadcast, DLES, professional audio and video markets within the Oceania region. Amber’s expertise fully and uniquely encompasses both the production and the delivery of today’s rich audio visual experience.
US Markets were closed for the Thanksgiving Holiday. European markets fell by 3% following news that Dubai World, the Dubai government investment company, wish to delay repayment of their debt.
Neptune Marine Services Ltd (NMS) today announced that it has been awarded a new round of international contracts for some of the oil and gas industry’s leading operators. Spanning all of the world’s major geographic regions, the contracts include- A combined services project off the West Australian coast for global exploration and production company, Apache Energy; Various pipeline stabilisation and free span rectification projects including that for the Pipeline Replacement Project 2 being carried out by Leighton International for India’s Oil and Natural Gas Corporation; A range of inspection and maintenance support services on Australia’s North West Shelf including a five-year program of inspection services for a leading FPSO operator; Design and manufacture of specialist subsea equipment for some of the oil and gas industry’s major multinationals; and Extended fabrication scope on the Pelamis Wave Power Eon Project in the UK that generates electricity from wave energy.
Neptune’s Managing Director and CEO, Christian Lange, said the new round of work, valued at more than $20 million, was indicative of the improving domestic and international oilfield service environment.
Neptune Marine Services (NMS) is one of Australia’s leading providers of engineered solutions to the international oil and gas, marine and renewable energy industries. The company employs more than 600 people in Australia, the UK, USA and Asia and provides a full suite of innovative services including subsea and pipeline engineering; commercial diving; specialist fabrication; inspection, repair and maintenance; pipeline stabilization and protection; ROV and vessel supply; hydrographic surveying and geophysical services; project management; rope access and tension netting IRM; and the patented NEPSYS dry underwater welding technology.
iSOFT Group Limited (ISF) – Australia’s largest listed health information technology company today announced it acquired Patient Safety International Pty Ltd. (PSI) in a deal worth up to $5 million as part of the company’s strategy of boosting its portfolio of innovative solutions through bolt-on acquisitions. The acquisitions provides iSOFT with state-of-the-art patient safety software that enables healthcare organizations to record, monitor and take relevant management action to minimize future adverse medical events. South Australia- based PSI’s AIMS solution uses an ontology that comprises a comprehensive set of some 25,000 terms developed by the Australian Patient Safety Foundation. iSOFT paid an initial consideration of $1.07 million. The remainder may be paid out as an earn-out over three years. The company expects PSI to contribute $2 million in revenue at 25% EBITDA in FY10 and grow this contribution going forward. Currently used in Australia, South Africa and the U.S, the AIMS solution can be applied in most markets including the emerging Patient Safety Organizations (PSOs) in the U.S.
“This is the kind of acquisition that goes straight to the heart of improving patient safety and lifting the overall quality of health care,” said Gary Cohen, iSOFT Executive Chairman & CEO. “PSI’s software is an explicit example of how innovative technology is being used directly to enhance patient safety through analysis and prevention of errors. PSI is an outstanding contribution to iSOFT’s reputation as a world-class provider of healthcare IT solutions.”
iSOFT Group Limited (ISF) is the largest health information technology company among the world’s biggest providers of advanced application solutions in modern healthcare economies. iSOFT works with healthcare professionals to design and build software applications that answer all of the difficult questions posed by today’s healthcare delivery challenges. Patient Safety International Pty Ltd (PSI) was formed in October 2000 as a fully owned subsidiary of the Australian Patient Safety Foundation (APSF). As the commercial arm of the APSF, PSI is responsible for the marketing, technical development and support of the AIMS incident management system. The APSF forms the research basis of PSI and is responsible for on-going development of the classification schema.
UXC Limited (UXC) is pleased to announce that it has signed a contract with SP Ausnet for the roll-out of Advanced Metering Infrastructure (AMI) smart meters in Victoria. This makes UXC the market leader in the provision of installation and associated services for the inaugural roll out of smart meters. UXC is one of two service providers to install more than 650,000 meters plus associated equipment, with an estimated contract value of some $40 million. Under the agreement, UXC will provide services like Planning and workforce scheduling; Installation of AMI Smart Meters; Installation of Communications Technology; Interaction and liaison with SP Ausnet customers; and Communication and reporting activities associated with the AMI smart meter roll out.
UXC Executive Chairman Geoff Lord commented “We now have a significant role to play in 2 of the three AMI smart meter contracts awarded to date. We are pleased to have become the market leader in this area in such a short time, and believe it will position us strongly for the remaining 85% of the Jemena roll-out and such work in other states when undertaken.”
UXC Limited is an S&P / ASX 300 listed Australian business solutions company. UXC has a successful history of creating shareholder wealth and has established a strong track record in growing revenue, earnings, EPS and dividends over an extended period. UXC provides its services through three operating divisions: Business Solutions Group; Business Applications and Infrastructure
Professional Solutions Group; and Field Solutions Group. All manually-read electricity meters in Victoria are going to be replaced with new remotely read advanced metering infrastructure (AMI) ‘smart meters’.
