Comms Group agrees AUD 30 mln sale of managed IT business to efex
Australian operator Comms Group has entered into a binding agreement to sell its managed IT services business, onPlatinum, to Thinkex Holdings, trading as efex, for AUD 30 million. The consideration comprises an upfront cash payment of AUD 28.5 million and AUD 1.5 million to be held in escrow for 12 months, subject to agreed conditions. Comms Group said it will provide transitional services for up to 12 months following completion to support customers, suppliers and employees. The companies will also contin