Monteray Mining Group to acquire Norwood Systems
On 9 December 2014, Monteray announced that it had entered into binding termsheet (Agreement) with the major shareholder and board of Norwood Systems Pty Ltd (Norwood) to acquire 100% of Norwood (Transaction).
Through its proprietary COrporate ROaming Network Access (CORONA) platform, Norwood has developed one of the world’s most advanced alternative roaming solutions to reduce significantly mobile phone voice roaming charges for corporate travellers, while improving connectivity to their corporate telephony networks when on the road.
Norwood’s solution is live and has been adopted by users from more than 30 large corporate organisations. Norwood’s first customer to have the CORONA platform installed and deployed was iiNet Limited, one of Australia’s largest Internet service providers.
In conjunction with the acquisition of Norwood, Monteray is seeking to raise funds under a Public Offer of securities pursuant to a Prospectus.
- MRY Share Price & Volume
Price +/- Volume
0.027 -0.001 399885
Prices shown are delayed, not live
Australian Securities Exchange