Sale of Datasquirt approved by Shareholders

December 14, 2011

This morning I chaired a General Meeting of Datasquirt Limited, where the the shareholders voted to approve two resolutions relating to the sale of Datasquirt’s business to LiveOps Inc (a leading US-based cloud contact centre provider).

The first resolution approved the sale of the business to LiveOps for US $12.5M cash and the second resolution approved Datasquirt buying back 83.33% of its shares from Shareholders at NZ $0.499 per share (one share purchased for every 1.2 owned).

The sale transaction still remains conditional on a number of technical issues, but I’m confident that it will take place before the end of this year.

I believe this will be a great result for Datasquirt, LiveOps, their respective customers and the New Zealand IT industry, for the following reasons;

  • The sale brings together two world-class, complementary contact centre technology providers who share a common passion and purpose.
  • It means customers will be able to access all the communication channels they need to run a modern call centre – sms, email, fax, web chat, social media and voice – from one expert provider, LiveOps, via the ease of the cloud.
  • All of Datasquirt’s staff are being retained and will continue operating from their current locations in Auckland NZ and the United Kingdom.
  • The retention of Datasquirt’s development team in Auckland will undoubtedly lead to further investment and jobs within the local IT industry.
  • Datasquirt’s shareholders get the option of a return of their capital at a very fair price.

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