0
General

Optiva shareholder ESW sells stake to OceanLink for USD 58.9 million

Tuesday 2 March 2021 | 11:47 CET | News
Optiva said shareholder ESW Capital has agreed to sell its stake in the company to OceanLink Management and related investment funds at USD 39.90 per share. Under the deal, OceanLink, EdgePoint Investment Group, Maple Rock Capital Partners and Meson Capital will buy almost 1.5 million shares from ESW for a total of CAD 58.9 million. Optiva said it will now complete its planned private placement of up to USD 17 million. The company added that it did not itself participate in the sale.

Thank you for visiting Telecompaper

Sign up below to get access to the rest of this article and all the telecom news you need.

  • Register free and gain access to even more articles from Telecompaper. Register here
  • Subscribe and get unlimited access to Telecompaper’s full coverage, with a customised choice of news, commentary, research and alerts.

Subscriptions

Already registered?



Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Categories: General
Companies: Optiva
Countries: World
::: add a comment

Add comment

We welcome comments that add value to the discussion. We attempt to block comments that use offensive language or appear to be spam, and our editors frequently review the comments to ensure they are appropriate. If you see a comment that you believe is inappropriate to the discussion, you can bring it to our attention by using the report abuse links. As the comments are written and submitted by visitors of the Telecompaper website, they in no way represent the opinion of Telecompaper.


Related

Optiva raises CAD 25 million in share issue

Published 01 Apr 2021 11:19 CET | World
Optiva has raised CAD 25 million in a private placement of subordinate voting shares. A total of 834,500 shares will be issued at ...

Optiva extends partnership with Tele2 in Sweden and Baltic countries

Published 04 Mar 2021 13:20 CET | Sweden
Canadian company Optiva said that Tele2 has extended its ten-year partnership with the company for Sweden and the Baltic region. ...

Optiva reports profitable Q4, helped by lower expenses

Published 04 Mar 2021 11:26 CET | World
Optiva reported lower revenues for the fourth quarter, but it also went back to a profit, helped by reduced costs for research ...

Mobily goes live with Optiva payment system on private cloud

Published 26 Feb 2021 12:23 CET | Saudi Arabia
Saudi operator Mobily has gone live with the Optiva payment solution on Mobily private cloud given the operator's large ...

Optiva appoints Halligan as new CTO

Published 24 Feb 2021 08:43 CET | World
Canada-based BSS and OSS specialist Optiva has appointed Matthew Halligan as chief technology officer. Halligan brings to Optiva ...

Optiva begins review of stake sale to OceanLink

Published 30 Dec 2020 10:29 CET | World
Optiva has set up a financing committee charged with reviewing and looking for alternatives to the company's plans to issue ...

Canadian court rules Optiva can proceed with financing, gives ESW board seats

Published 15 Dec 2020 11:03 CET | World
Canada's Ontario Superior Court of Justice said Optiva can go through with the financing it announced in July, when it raised USD ...

Optiva appoints new CEO

Published 07 Dec 2020 09:23 CET | World
Optiva has appointed John Giere its new CEO. Giere earlier served at Openwave Mobility, Alcatel-Lucent and Ericsson. He was most ...

Optiva lifts adjusted EBITDA amid lower revenues in Q3, puts focus on inhouse R&D

Published 16 Nov 2020 16:38 CET | World
Optiva reported lower revenues but higher adjusted EBITDA during its fiscal third quarter to end September, helped by cost ...

Optiva agrees CAD 30 mln capital injection from OceanLink

Published 10 Nov 2020 15:37 CET | World
Optiva has agreed a new capital injection of CAD 30 million from OceanLink Management and related investment funds. The company ...

Optiva Q2 sales down on lost clients, legal & advisory costs bring net loss

Published 12 Aug 2020 10:33 CET | World
Optiva has reported second-quarter revenue of USD 19.9 million, down 20 percent from a year earlier due to a shortfall in income ...

Optiva looks to ward off bid from shareholder ESW

Published 28 Jul 2020 08:59 CET | World
Optiva's largest shareholder ESW has made a public offer to increase its stake in the company. The company said it opposes ...

Optiva confirms new debt financing, board members

Published 21 Jul 2020 10:11 CET | World
Optiva has confirmed new financing and the appointment of new independent directors to its board. The company raised USD 90 ...

Optiva hopes to present new CEO over coming weeks

Published 03 Jul 2020 09:48 CET | World
Optiva has announced some shifts in its management team, with lead independent director Robert Stabile assuming management duties ...

Optiva gets financing to start redeeming shares, receives preliminary offer of interest

Published 29 Jun 2020 11:29 CET | World
Optiva said that three of the independent directors on its board of directors are in talks to finance the redemption of all of ...

Optiva revenues fall in Q1, still in talks on financing

Published 13 May 2020 10:35 CET | World
Optiva reported revenues of USD 19 million for the first quarter, down from USD 25 million a year earlier after the end of ...

Optiva CEO resigns after compensation dispute

Published 12 May 2020 08:48 CET | World
Optiva has announced the resignation of CEO Danielle Royston from 9 August, following the required 90-day notice period. The ...

Oxio picks Optiva BSS platform for new mobile internet service

Published 06 May 2020 14:23 CET | Mexico
Optiva has announced a contract to provide its BSS platform to the virtualised multi-carrier service for enterprises launched by ...

Optiva names Joshi as CFO

Published 21 Apr 2020 15:36 CET | Canada
Optiva appointed Ashish K Joshi as CFO. Joshi replaces Anin Basu, who served as Interim CFO since January 2019. Joshi brings over ...

Optiva posts quarterly loss of USD 17 mln as revenue falls, financing costs increase

Published 10 Mar 2020 15:34 CET | World
Optiva reported revenues for the three months to December of USD 20.5 million, down from USD 27.6 million due to the end of ...

Optiva names new member to board of directors

Published 02 Mar 2020 14:45 CET | World
Optiva said it has appointed David Haselwood to its board of directors, effective 2 March. Haselwood will replace Andrew Price, ...

Optiva shareholder wants to replace two independent directors

Published 03 Feb 2020 08:59 CET | World
Optiva said it has received a requisition from shareholder Maple Rock Capital Partners to set up a Special Meeting of holders of ...