Microsoft partner in bid to list on ASX

By on
Microsoft partner in bid to list on ASX

ASX-listed West Australian mining company Modun Resources has signed an agreement to buy Microsoft partner LiveTiles Holdings, an Australian-founded Office 365 software firm.

The deal values LiveTiles at $33.75 million, with 225 million Modun shares to be issued to LiveTiles shareholders at 15 cents per share.

Modun will change its name to LiveTiles Limited and expects to re-list on the Australian Securities Exchange in July, depending on various conditions including shareholder approval and due diligence on both sides.

While the LiveTiles headquarters is in New York, the company’s history lies in the Australian IT channel.

The firm was established in 2012 by the founders of Office 365, Azure and SharePoint consultancy nSynergy, which was itself bought by local cloud licensing provider Rhipe in December. Rhipe has the rights to bundle LiveTiles solutions with Office 365 via Its 1,500 partner channel.

In December, Rhipe announced it would purchase a 12.5 percent stake in LiveTiles and invest $2.5 million in the business, which boasts the likes of Nike, Best Buy, Siemens, Thyssen Krupp, Australia Post and the Commonwealth Bank as users.

Another product, LiveTiles Mosaic, is currently offered free to schools, allowing Office 365 interactive classroom ”hubs”.

Rhipe has issued a statement welcoming the proposed listing of the LiveTiles business and announcing it has signed the share purchase agreement as a LiveTiles shareholder.

Modun Resources' head office is in Perth, and the company describes itself as a Mongolian-focused coal explorer seeking projects to grow through exploration and acquisition.

Got a news tip for our journalists? Share it with us anonymously here.
Copyright © CRN Australia. All rights reserved.
Tags:

Most Read Articles

You must be a registered member of CRN to post a comment.
| Register

Log In

Username / Email:
Password:
  |  Forgot your password?