Feeds

Melbourne IT looks to offload business units

Tough times for SME services

Secure remote control for conventional and virtual desktops

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. ®

Protecting against web application threats using SSL

More from The Register

next story
Brit telcos warn Scots that voting Yes could lead to HEFTY bills
BT and Co: Independence vote likely to mean 'increased costs'
Phones 4u slips into administration after EE cuts ties with Brit mobe retailer
More than 5,500 jobs could be axed if rescue mission fails
New 'Cosmos' browser surfs the net by TXT alone
No data plan? No WiFi? No worries ... except sluggish download speed
Radio hams can encrypt, in emergencies, says Ofcom
Consultation promises new spectrum and hints at relaxed licence conditions
Blockbuster book lays out the first 20 years of the Smartphone Wars
Symbian's David Wood bares all. Not for the faint hearted
Bonking with Apple has POUNDED mobe operators' wallets
... into submission. Weve squeals, ditches payment plans
'Serious flaws in the Vertigan report' says broadband boffin
Report 'fails reality test' , is 'simply wrong' and offers ''convenient' justification for FTTN says Rod Tucker
This flashlight app requires: Your contacts list, identity, access to your camera...
Who us, dodgy? Vast majority of mobile apps fail privacy test
Apple Watch will CONQUER smartwatch world – analysts
After Applelocalypse, other wristputers will get stuck in
prev story

Whitepapers

Providing a secure and efficient Helpdesk
A single remote control platform for user support is be key to providing an efficient helpdesk. Retain full control over the way in which screen and keystroke data is transmitted.
Saudi Petroleum chooses Tegile storage solution
A storage solution that addresses company growth and performance for business-critical applications of caseware archive and search along with other key operational systems.
Security and trust: The backbone of doing business over the internet
Explores the current state of website security and the contributions Symantec is making to help organizations protect critical data and build trust with customers.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.