Feeds

Melbourne IT looks to offload business units

Tough times for SME services

Security for virtualized datacentres

Battling disappointing trading results, Australian domain name custodian Melbourne IT is seeking buyers for some of its ailing business units.

The hosting house has also weathered a tough year on the security front, enduring a Privacy Commission investigation, following a hacking attack from Anonymous in August that targeted client AAPT and caused the loss of customer data.

In a statement to the ASX, Melbourne IT said that following a strategic review, the company would seek "ownership alternatives for its current portfolio of businesses."

Melbourne IT has appointed Lazard & King and Wood Mallesons as financial and legal advisers to conduct a formal strategic review to divest some of those struggling business units.

The company confirmed that it was looking at different ownership alternatives in relation to the lesser performing units with potential buyers being primarily large offshore organisations, who had previously indicated interest in potentially acquiring one or more divisions of Melbourne IT.

Melbourne IT revealed that aggressive competitor activity has adversely affected its SMB eBusiness Solutions segment while its government services division ForTheRecord (FTR) has been squeezed by pauses in US Federal and State Government spending.

The Digital Brand Services (DBS) division had to push back growth expectations due to delays in the rollout of ICANN’s new gTLD program. ®

Internet Security Threat Report 2014

More from The Register

next story
Crouching tiger, FAST ASLEEP dragon: Smugglers can't shift iPhone 6s
China's grey market reports 'sluggish' sales of Apple mobe
TEEN RAMPAGE: Kids in iPhone 6 'Will it bend' YouTube 'prank'
iPhones bent in Norwich? As if the place wasn't weird enough
Sea-Me-We 5 construction starts
New sub cable to go live 2016
EE coughs to BROKEN data usage metrics BLUNDER that short-changes customers
Carrier apologises for 'inflated' measurements cockup
Comcast: Help, help, FCC. Netflix and pals are EXTORTIONISTS
The others guys are being mean so therefore ... monopoly all good, yeah?
Surprise: if you work from home you need the Internet
Buffer-rage sends Aussies out to experience road rage
EE buys 58 Phones 4u stores for £2.5m after picking over carcass
Operator says it will safeguard 359 jobs, plans lick of paint
prev story

Whitepapers

A strategic approach to identity relationship management
ForgeRock commissioned Forrester to evaluate companies’ IAM practices and requirements when it comes to customer-facing scenarios versus employee-facing ones.
Storage capacity and performance optimization at Mizuno USA
Mizuno USA turn to Tegile storage technology to solve both their SAN and backup issues.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Beginner's guide to SSL certificates
De-mystify the technology involved and give you the information you need to make the best decision when considering your online security options.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.