Datasquirt sold to US company for $US12.5 million

New Zealand-based Datasquirt has sold to United States call centre provider LiveOps Inc for $US12.5 million.

Alex Walls
Fri, 18 Nov 2011

New Zealand-based Datasquirt has sold to United States call centre provider LiveOps Inc for $US12.5 million.

This was a 37% premium over Datasquirt’s current market capitalization, the company said.

Datasquirt is ASX listed but has its head office in Auckland and offers non-voice channel contact management software. Its CONTACT product was a web-based application delivered to customers either as a hosted Software as a Service or installed on site, Datasquirt’s website said.

“It sits alongside your contact centre voice management system and allows your agents to maintain communications in a particular non-voice channel or switch between non-voice channels such as text and email.”

The company today said it had made a conditional sale of its complete business to American call centre provider LiveOps for $US12.5 million.

The sale was subject to shareholder approval but the directors anticipated a distribution to shareholders of $NZ12.8 million as a capital return, the company said, with Datasquirt becoming a cash box holding about $NZ3 million that would be invested in an alternative business.

If no suitable investment opportunities presented within six months of the sale’s completion, the balance of the cash would be returned to shareholders, Datasquirt said.

The sale was expected to result in a profit of at least $NZ15 million in the current financial year, the company said.

The directors and several key investors had agreed to use most of the proceeds from their distribution from the sale to subscribe for about $US7.5million of shares in LiveOps, Datasquirt said.

LiveOps would keep Datasquirt’s technical development in New Zealand, according to reports.

Alex Walls
Fri, 18 Nov 2011

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Datasquirt sold to US company for $US12.5 million