Digital services company Webcentral (ASX: WCG) has pulled off a substantial M&A coup having secured an agreement to sell two-thirds of its domains business for $165 million. Making the deal most remarkable is the fact Webcentral was trading with a market cap of just $36 million ($0.11 per share) prior to the deal being formalised.
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It may not have had the sex appeal of the big BNPL acquisition that rocked the ASX yesterday but M&A activity is thriving in the digital space albeit IT services provider Cirrus Networks (ASX: CNW) was insulted by the takeover offer received from telecommunications provider Webcentral (ASX: WCG). Unanimously recommending their shareholders reject the offer
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Flush with newly-raised cash, the listed data centre (DC) operators are on an expansionary push as the pandemic elevates corporate and government requirements for more data storage and better connectivity. Investor interest has long centred on sector big daddy NextDC (NXT), which is trading near record high levels despite (or because of) a monster $672
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