Friday, 23 August 2019 Sydney

Invest In Australia Blog::

  • Prudential Real Estate to acquire majority stake in Australia’s 595 Collins Street property

    Prudential Real Estate is to acquire a majority interest in 595 Collins Street, an A Grade office complex in Melbourne, Australia. Prudential Real Estate is real estate investment management and advisory business of Prudential Financial, Inc. Through its Singapore based Pramerica Real Estate Investors (Asia) Pte. Ltd, the firm has agreed to acquire the ownership stake from Investa. However, it is acting on behalf of investors in its Asia Real Estate Fund.

    In addition to continuing to own a percentage of the property, Investa Property Group will be retained as property manager for the 100 per cent leased building.

    Comments: [0]
  • Egencia acquires Travelforce to expand its Service Offering and Global Footprint

    Egencia(R), an Expedia, Inc. company, announced Tuesday that it has completed its acquisition of Travelforce, a leading Australian and New Zealand travel management company. The financial details of the transaction were not disclosed.

    Egencia Asia Pacific Managing Director Cecilia Routledge said that after years as partners, Egencia welcomes Travelforce as a close member of the Egencia family. Routledge noted that Travelforce has an unparalleled reputation in the industry, and the combined firm’s talented teams will bring an even stronger offering and service to Australian and New Zealand companies and their travelers.

    Comments: [0]
  • Telstra buys video conferencing and collaboration company iVision

    Telstra Tuesday announced it has purchased video conferencing and collaboration company iVision, in a bid to accelerate its growth in IP video services.

    Telstra CEO David Thodey commented that growth in new markets was a key strategic imperative for the company and the acquisition of iVision would provide added strength in Telstra’s network-based services. Thodey noted that in the past three years, there has been explosive growth in video across IP networks.  

    Organizations are adopting richer formats of communication to work and collaborate more effectively, both internally and with their customers and partners, Mr Thodey said.

    Comments: [0]
  • The Future of Australian Bank Funding report released by ACFS & KPMG

    The Future of Australian Bank Funding Report released by the Australian Centre for Financial Studies (ACFS) and KPMG identifies many issues for banks and government in relation to bank funding and questions the sustainability of current funding models of the major banks.

    Bank funding models are unlikely to substantially change and regulatory intervention will make little difference, according to the Report.


    Comments: [0]
  • QIAGEN N.V. to purchase Australia’s Cellestis Limited for US$355 million

    Netherlands based QIAGEN N.V. is to acquire Australia’s Cellestis Limited for around A$341 million (US$355 million) in cash. The investment provides QIAGEN with access to a novel "pre-molecular" technology that offers a new dimension in disease detection not currently possible with other diagnostic methods, stated QIAGEN.

    Peer Schatz, Chief Executive Officer of QIAGEN N.V. said the firm believes next-generation DNA- and RNA-based molecular testing can benefit from greater use of QuantiFERON® technology, which has a unique ability to identify patients at risk from potentially life-threatening diseases.

    Comments: [0]
  • US based Teleflora acquires Australia’s award-winning floral delivery service firm Petals Network

    US based firm Teleflora, the world’s leading floral wire service offering 100% hand-arranged, hand-delivered flower arrangements by local neighborhood florists, purchased Petals Network, an award-winning Australian and New Zealand floral delivery service.    
    The company's first international acquisition strengthens the U.S. firm’s offerings throughout Australia and New Zealand by tapping into Petals Network's extensive system of 1,300 local, quality conscious florists from Australia, New Zealand and around the world.

    Comments: [0]
  • CSC to acquire Australia’s leading provider of advanced healthcare IT solutions

    CSC is to acquire all of the outstanding equity of iSOFT Group Limited. iSOFT is one of the world’s largest providers of advanced healthcare IT solutions. The acquisition was made possible by way of a court-approved scheme of arrangement. CSC expects the acquisition to complement and strengthen its market-leading software products and healthcare integration and services portfolio, while enhancing its healthcare research and development capabilities.

    Comments: [0]
  • Fletcher Building Limited says it has secured a 92.7 percent relevant interest in Crane Group Limited

    New Zealand based construction major Fletcher Building Limited announced Wednesday that it has secured a 92.7 per cent relevant interest in Australia’s Crane Group Limited. Subsequently, Fletcher Building will therefore not extend its takeover offer for Crane. The offer closes on 31 March 2011. After the close, Fletcher Building will proceed with the compulsory acquisition of Crane.

    Fletcher Building Chief Executive Officer Jonathan Ling said the move is a significant milestone for the firm, having crossed the 90 per cent acceptances level in the firm’s offer for Crane Group. Ling said the investment marks a considerable milestone, as Fletcher will now move to compulsorily acquire the remaining shares.

    Comments: [0]
  • Cephalon Inc acquires Australia’s ChemGenex Pharmaceuticals Limited

    In a joint announcement, Cephalon Inc. and ChemGenex Pharmaceuticals Limited said Cephalon's wholly-owned subsidiary, Cephalon CXS Holdings Pty Ltd, is to acquire ChemGenex. ChemGenex is a hematology-focused Australian biopharmaceutical company developing its lead product candidate, OMAPRO(TM), for the treatment of chronic myeloid leukemia (CML) patients.

    Kevin Buchi, Chief Executive Officer of Cephalon, said the proposed transaction allows ChemGenex shareholders to realize cash proceeds at a significant premium to recent trading levels and adds an interesting late-stage opportunity to the firm’s portfolio.

    Comments: [0]
  • Tripoint Corp acquires Melbourne based business consulting group Platinum Insight

    Tripoint Corporation, a privately owned business and systems integration consulting company, has acquired Platinum Insight, a Melbourne based business consulting group that specializes in helping financial services organizations implement large-scale strategic business transformation and modernization initiatives.

    Tripoint expects the acquisition of Platinum Insight to bolster its growth strategy and help the corporation accelerate its presence in the financial services sector. It will also provide the scale and support framework to offer customers a broader range of solutions in business and systems integration consulting and application support, stated Tripoint.

    Comments: [0]