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Blog, Telecommunications - Written by Renai LeMay on Thursday, March 28, 2013 10:50 - 0 Comments
Leighton confirms telco business sale
blog You may recall that diversified contract and industrial group Leighton Holdings has been looking to sell its NextGen, Metronode and Infoplex telecommunications and technology businesses for some time. At one stage interested bidders apparently included Telstra, but as it turns out, a somewhat different organisation has bought them. According to a media release issued by the company this morning:
Leighton Holdings Limited announced today that the Company has reached agreement with Ontario Teachers’ Pension Plan (Teachers’) for the sale of approximately 70% of Leighton’s telecommunications businesses, which includes Nextgen Networks, Metronode and Infoplex.
Leighton Holdings confirms that Mr Peter McGrath will be appointed as the CEO of the combined telecommunications business, subject to the successful completion of the transaction.
“We will remain an Australian headquartered and managed business and, as we work towards separation from Leighton over the coming months, the management team and I will be using this opportunity to ensure the business continues to be flexible, nimble and focused toward our customers,” said Mr McGrath.
The Leighton Telecommunications business manages high speed, carrier grade fibre network services through Nextgen; provides data centre and related value added services through Metronode; and cloud and ICT services through Infoplex.
Ontario Techers’ Pension Plan is one of the largest investment groups currently operating in Canada and, as its name suggests, is responsible for administering pensions for public school teachers of the Canadian province. So Australian telecommunications and IT assets will be helping to fund the retirement plans of Canadian teachers. Isn’t capitalism just weird sometimes? Let’s hope no Australian teachers have put their retirement savings into Canadian-headquartered BlackBerry ;)
Latest Delimiter 2.0 articles (subscriber content)
|It’s hard to imagine how things could have gone worse for Malcolm Turnbull in his first three months as Communications Minister. With the public rapidly turning on the Earl of Wentworth over his horribly unpopular new NBN policy, a growing perception that he’s stacking NBN Co with partisan staff and a lack of transparency verging on the hypocritical, it’s hard to find positives for the Earl of Wentworth from his initial period in office. Turnbull is truly fumbling the catch on both political and functional levels.|
|Politicians from Australia’s major parties need to stop issuing ludicrous blanket pardons for the intelligence community’s ongoing misdemeanours and start applying a basic modicum of transparency and accountability to this important national security function.|
|The independent pro-fibre National Broadband Network movement is doing a far better job of promoting Labor’s Fibre to the Premises-based NBN policy than Labor itself. When is Labor going to wake from its slumber and start supporting this scrappy but energetic grassroots network of activists?|
|Ziggy Switkowski's first substantial public appearance since being appointed NBN Co chief executive has starkly demonstrated just how different he is from his predecessor, Mike Quigley, and just how strictly he will adhere to the guidelines which his patron, Communications Minister Malcolm Turnbull, has set for him.|
|Australian technology companies have been virtually absent from the the nation’s public stockmarket over the past decade as the stigma of the dot com bust took its toll on investor confidence. But a clutch of new listings planned for the closing months of 2013 shows renewed interest in the sector and that local entrepreneurs are smelling money in the air once again.|
|NBN Co’s Strategic Review process gives the company an unmissable opportunity to re-evaluate the early decision to deploy its FTTP network primarily through Telstra’s underground ducts. The company and its new Coalition masters must now seriously consider deploying more fibre aerially on power poles in an effort to speed up its rollout substantially.|
|That moment which many Australian technologists fervently hoped for but never expected to see has come to pass: Simon Hackett has been appointed to the board of the National Broadband Network Company. But what questions should the Internode founder be asking NBN Co’s executive management team? Here’s five ideas to start with.|
Enterprise IT, News - Dec 13, 2013 17:36 - 0 Comments
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Blog, Telecommunications - Dec 13, 2013 13:32 - 16 Comments
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Blog, Industry, Startups - Dec 10, 2013 10:19 - 0 Comments
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Digital Rights, News - Dec 12, 2013 16:17 - 5 Comments
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- No plans for specific ASD intelligence inquiry, says Inspector-General
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