Tech One gets hungry
Queensland software developer Technology One has raised $18 million in private funding as it prepares to engage in a potential acquisition.
The listed company released a statement suggesting it had placed 4.47 million shares at $4.03 per share to domestic institutional investors, but refused to name the company it plans to acquire with the funding.
"The company is not currently in a position to provide any further details on the potential acquisition as negotiations have not progressed to an appropriate stage," the company said.
The placement was arranged through Ord Minnett Corporate Finance and does not require shareholder approval. The secrecy over the deal is expected to be lifted in late November or early December.
Lotus releases beta
Lotus Development has released the beta version of its Web-Access messaging client, code-named Shimmer, for public testing.
The client forms part of Lotus' iNotes system, which allows users to do work offline and then synchronise the new data from the device with the business' Domino server, after logging onto to a Web address. The new client supercedes the Lotus WebMail client, which supports offline access to e-mail, and adds synchronised access to Domino messaging and personal or company information.
Lotus is pushing the client as a way that SMEs and application service providers can provide these services to multiple users without needing to install a client on every machine.
The software is expected to be ready for release by early next year.
Games create Web history
While the broadcasting of the Sydney 2000 Olympic Games was a strictly non-Internet affair, the recent Paralympic Games proved beyond a doubt the scope for Webcasting sporting events to worldwide audiences.
The Webcast of the games on WeMedia.com, a portal dedicated to providing information and entertainment to people with disabilities, attracted thousands of viewers to the sporting event with groundbreaking coverage. WeMedia began as a magazine publisher but moved into the portal market with a $100 million site targeting the disabled community.
Three events at a time have been Webcast on the site in the last few weeks, after the US-based multimedia company paid around a million dollars for the rights and transferred 300 staff to Sydney for the project.
"Our Webcast will set the standard for all future sports Webcasts," said producer Rick Gentile. "Sports enthusiasts will soon be watching Webcasts as often as traditional TV broadcasts."