Key developments

Enterprise ICT stocks in Australia and New Zealand showed mixed performance over the last year. Overall, economic growth is expected to be sluggish relative to previous years, creating uncertain performance for enterprise ICT equities. Some of these companies are growing through acquisition rather than organically, and are exposed to any economic downturn.

Vonex

Vonex’s stock has nearly doubled in market capitalisation after the company announced on June 25 that it and MaxoTel have entered a Scheme Implementation Deed where MaxoTel will acquire Vonex for $34.4 million in cash. MaxoTel is an Australian telecommunications provider, offering best-in-class VoIP, hosted PBX and SIP trunking solutions. The deal is conditional on shareholder and court approval.

Data#3

Data#3’s stock price is up 5% in the last month, despite a lack of price sensitive announcements by the company. The stock has rebounded in recent months after bottoming out in May after three months of turbulence since the market reacted poorly to its 1H24 results.

Field Solutions

Field Solutions stock fell around 4% in the last month. On 18 June the company announced that it had completed the acquisition of Tasmanet for $182,238 and 6.7 million Field Solutions shares. Tasmanet delivers internet, voice, networking, security, and cloud services for Small Business, Government & Enterprise. Tasmanet company is based out of Tasmania.

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