29/06/2009 - 11:20

Major changes for ComputerCORP

29/06/2009 - 11:20

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West Perth-based ComputerCORP will undergo some major changes including a name change and a new east coast-based chief executive following the acquisition of two technology providers.

Major changes for ComputerCORP

West Perth-based ComputerCORP will undergo some major changes including a name change and a new east coast-based chief executive following the acquisition of two technology providers.

ComputerCORP is finalising details for the acquisition of Melbourne-headquartered companies Synergy Plus for $9.3 million and S Central for nearly $10 million.

ComputerCORP first flagged the acquisitions in March this year with shareholders yet to approve the S Central acquisition.

Following the acquisitions, ComputerCORP said over 80 per cent of its revenue and 75 per cent of its full time personnel will be located outside of Western Australia.

As a result, current Perth-based chief executive Robin Rindel will step down from his position and S Central managing director Peter Mavridis will takeover, and be based in Melbourne.

ComputerCORP non-executive director Bruce Harvey will also step down.

ComputerCORP will also propose to shareholders a change in name to Synergy Plus.

Additionally, ComputerCORP plans to raise $10.5 million, comprising a $4.3 million rights issue, a $5 million private placement to major S Central shareholders and a $1.2 million private placement to other S Central stakeholders.

The rights issue is underwritten by ComputerCORP chairman Dominic Martino.

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