Macquarie Telecom bids $17.9m for Bulletproof
Macquarie’s cloud services subsidiary Macquarie Cloud Services has made an off-market bid for all the ordinary shares in Bulletproof for $0.11 per share.
The purchase price represents a 64.2% premium on the closing price of Bulletproof shares on Friday and a 57.1% premium on the one-month average trading price of AU$0.07.
Macquarie already owns around 16.11% of Bulletproof shares through a call option with an entity associated with Bulletproof’s founder and CEO Anthony Woodward.
The company’s offer will be contingent on at least 90% acceptances as well as there being no material adverse change in Bulletproof’s business conditions, financial prospects or assets, among other conditions.
“Bulletproof is a longstanding business with a talented and experienced team. There is a strong strategic fit with Macquarie,” Macquarie CEO David Tudehope said.
“The combination will enable Macquarie and Bulletproof customers to access a full set of cloud options of co-location, private cloud and public cloud. We believe it is in the interests of Bulletproof shareholders to accept the Macquarie Offer.”
The first Institute for Machine Learning will be implemented at the former Royal Adelaide...
Macquarie Telecom has lodged an off-market offer to acquire all the shares in cloud services...
Global intelligent systems provider Advantech has partnered with five other high-tech firms to...