TNT 2.17% 22.5¢ tesserent limited

$3.5m cash added to the bank

  1. 926 Posts.
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    Tesserent looks to have done a pretty clever deal here, perhaps a genius one by Keith Glennan. TNT bought Blue Reef for $3.58m, they get all the customers and distribution but have also been able to on-sell the IP of MyNet/Sonar for the same amount ($3.5m plus $300,000 shares), yet keep all the distribution and exclusive market distibution. They also get to cut some staff overheads from this sale too.

    This is a very clever deal completed by Keith and the board, for no risk and all reward and no cost!
    Not sure why there is no price action yet - perhaps a bit too tricky to understand or is everyone watching the US election right now?
    R
 
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Currently unlisted public company.

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