Ezenet receives $3m bid for subsidiary

Nedlands-based internet technology developer Ezenet says it has accepted a conditional proposal for the sale of its digital movie business arm, Ezestream, for $3.1 million.

Ezenet said the proposal from Movielink, which provides digital business and entertainment solutions to hotels and travelers, excludes the purchase of Ezestream's accumulated losses, debtors and creditors and deposits on licences.

"The Company is presently obtaining the necessary independent report for shareholders and will provide further information as the transaction develops," Ezenet said.

At the end of the December quarter, Ezenet had $483,000 in cash.