News in brief

Telecom NZ acquires AAPT

Telecom New Zealand (TNZ) has finalised its plans to take over AAPT, acquiring 99 per cent of Australia's number three carrier. Under the $525 million buy-out, TNZ's wholly-owned subsidiary TCNZ Australian Investments plans to merge AAPT's global, mobile and business assets with its own to form a trans-Tasman telco carrier, AAP reports said. The New Zealand telco reportedly has a 20 per cent stake in AAPT already.

Internet misuse at work

Rising numbers of employees are spending time shopping, investing and watching sports online instead of working. According to the 'Web@Work' survey by the Centre for Internet Studies, conducted among 1500 workers from various industries. Key findings from the survey found the average time an employee spends looking at non-work related Web sites is 3.24 hours per week. Some 56.6 per cent of respondents favoured filtering software that allocates time for personal Internet use each day at work.

Australian e-business marketplace not viable Local e-commerce operators need to capture market share in Japan, South Korea and China because Australia's population is too small to build a viable e-business. Australian investment bank, The Harrington Partnership's (THPL) managing director Geoff Baker warned. Baker said local companies need to act more quickly because American and European e-business competitors are busy playing in their own booming markets. THPL has just launched Internet Enterprises Limited (IEL) which is forming e-commerce joint ventures in China covering the media, marketing and travel sectors.

Logica buys USC's IT arm

British software firm Logica has acquired the bulk of Australian-based Utilities Services Corporation's (USC) IT services arm, to hit the local energy and utilities sectors with an "unrivalled" portfolio of IT solutions. Under the $85 million deal, Logica, a global software, integration and IT consultancy, gains access to MITS, USC's IT systems division of 550 staff, and its IT consulting arm Prospect. USC will receive a maximum $20 million adjustment for the excess of net assets.

Join the newsletter!

Error: Please check your email address.

More about AAPAAPTLogicaMITSTelecom New ZealandThe Harrington PartnershipTHPLTNZUSCUtilities Services Corporation

Show Comments

Market Place