Amcom Telecommunications has teamed up with e-business association eGroup WA and technology hub Spacecubed to launch a tech accelerator program in Perth to help startups turn their ideas into products.
Spookfish has made a solid debut on its first day of trading on the ASX after a backdoor listing, building on big gains over the past six months as investors were buoyed by the geospatial company's high-profile backers.
Vocus Communications has been successful in its bid to take over Amcom Telecommunications with the pair agreeing to a deal valuing Amcom at $652.7 million.
Subiaco-based White Star Resources, which is in the process of acquiring a technology business, will seek shareholder approval to increase its previously announced capital raising to $5 million, to accommodate a new prominent cornerstone investor.
Amcom Telecommunications is preparing for a busy end to the year as negotiations with Vocus Communications continue and TPG Telecom waits on the sidelines.
The number of backdoor listings or reverse takeovers in Western Australia is likely to rise after a change in ASX policy has simplified the process for emerging companies to access capital via existing entities.
FEATURE: Biotech and IT companies are enjoying renewed investor interest, but these innovative businesses are facing a changing capital raising market featuring less government support and, in Perth, a drastic shift in the venture capital sector.
Amcom chairman Tony Grist told the company's annual meeting today it was well placed to deliver another year of double digit percentage growth in underlying net profit after tax.
WITH a sharp slump last year in the number and value of stock market floats, and little sign of a recovery, more emerging companies will likely pursue a backdoor listing.
Picking over the carcasses of failed companies and seeking to bring them back to life is something of a specialty in the Western Australian corporate scene, where the appetite for risk and a ready supply of listed shells have spawned a unique industry.
Amcom Telecommunications Ltd has signalled its desire to be a major player in a likely consolidation of the junior telco sector, securing a further $30 million from major shareholder Futuris Corporation Ltd.
THE rationalisation of second tier players in the telecommunications industry is likely to continue with Perth-based Amcom Telecommunications predicting that it will be involved i
