Melbourne IT Sells Domain Name Business to Tucows

[Scott7]

Reported today in the Financial Review.

 

[chris]

Interesting @Scott7

The tech company is buying InfoReady for $15.4 million and selling its international domain name reseller business for around $8 million to Canadian internet firm Tucows.

Melbourne IT will raise $15 million to help pay for the acquisition of InfoReady, which offers data analytic services in Australia and Ireland.

 

[DomainNames]

I wonder if Tucows realises Melbourne IT's domain business was dropping due to it be totally overpriced for domain names, renewals and COR's.

Maybe Tucows will drop the pricing by 95% to be competitive?

 

[helloworld]

i hope they modernise the ahq portal as well as streamline the cor process and while they're at it drop the price

 

[Scott.L]

yeah and why would MLB require a capital raising of $15M when they are selling an asset for $8M?

 

[Scott.L]

Melbourne IT posted strong half-year results with its net profit rising by 1020 percent to hit $5.6 million.
And yet they need a capital raising?