Divestment stories

Mark Jurgeleit, CCL's current network services general manager, will set up the network services division as a new business called Octave.

Vocus NZ is up to be put up for sale, with Australian parent Vocus Group also looking to sell the company's Aussie data centre assets.

APN News and Media, the Australian publisher of The New Zealand Herald newspaper, has put off the public share float for its newly consolidated kiw.

The Commerce Commission has signed off a takeover bid for Acurity Health Group by its three biggest shareholders after tweaks to the holding compan.

Pacific Brands, the Australian apparel and linen brands business, has split and sold Brands Collective, its unprofitable footwear and sporting appa.

Kordia Group has boosted after-tax profit 46 per cent to $10.7m ($7.3m in FY12) for continued operations in the 12 months to 30 June 2013.

Woolworths offloads its Dick Smith electronics chain to Anchorage Capital Partners for AUD $20 million, sharpening its focus on core supermarket operations.

TechDay spoke with Jon Tyce of Accounting Direct about the company's recent acquisition of the business from Net24.

CEO Paul Reynolds says increased competition, economic slowdown, regulatory interventions and XT network issues are behind the drop in revenue.