Market Briefs: Motopia, Praemium, DataDot, ICSGlobal, iiNet

Motopia closes mConnect buy; Praemium places $2.5m shares; DataDot raises $3m in SPP; ICSGlobal gets $300k in placement; iiNet launches BoB Lite

Motopia completes mConnect purchase

Mobile media and marketing company Motopia (ASX:MOT) has completed the acquisition of the mConnect Group.

The company received approval to issue 100 million shares and 10 million options as part payment for the purchase at its AGM last week.

Motopia will issue the shares and options and finalise some post-completion formalities over the next 10 business days. MOT shares ended Tuesday's trading 3.61 per cent lower at $0.080.

Praemium raises $2.5m in placement

Online financial management technology developer Praemium (ASX:PPS) has raised $2.5 million in a share placement.

The company revealed it had placed 17.8 million new shares with sophisticated investors at $0.14 per share – its closing price on the most recent day of trading prior to the agreements.

The proceeds will be used to fund expansion efforts both in Australia and the UK, Praemium said. PPS shares on Tuesday climbed 7.14 per cent to $0.150.

DataDot rakes in $3m with SPP

Microdot technology developer DataDot (ASX:DDT) has revealed it raised $3 million in its recent share purchase plan.

Shareholders subscribed to just under $2.1 million worth of the placement, with the balance funded under the underwriting agreement with KTM Capital.

The company began issuing shares under the placement on Tuesday. During the day, DDT shares grew 4.76 per cent to $0.044.

ICSGlobal gets $300k from placement

IT consulting and e-business services company ICSGlobal (ASX:ICS) has raised $300,000 in a share placement.

The company said it had issued nearly 23.1 million shares to sophisticated investors at an issue price of $0.013.

The issue was made without prior disclosure as per the terms of the regulatory exemptions in the Corporations Act. ICS shares stayed flat on Tuesday to close at $0.013.

iiNet Labs launches BoB Lite

ISP iiNet (ASX:IIN) has launched BoB Lite, a combined phone and internet wireless modem.

BoB Lite - a slimmer version of its BoB modem - is the first product out of iiNet's newly-opened in-house R&D centre, iiNet Labs.

The product supports Wi-Fi and 3G, and can interconnect with devices including iiNet's own fetchtv IPTV box, the company said. IIN shares grew 3.21 per cent to $2.890 following the announcement.

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