Salmat Acquires 4 Digital Marketing Businesses From Photon for A$75.3m Cash and up to A$15.7m Incentive; Photon Reduces Debt

22 December 2010. Salmat Limited (SLM.ASX) today announced that it has entered into an agreement with Photon Group Limited (PGA.ASX) to acquire four leading Australian digital and interactive businesses for a cash consideration of $75.3 million, with an additional $15.7 million capped performance hurdle payment to be made based on achievement of agreed performance milestones […]

Photon to Restructure, Raise Highly Dilutive A$102.5m+, Founder Departs

18th Aug 2010. Following its 7th June trading halt and subsequent ASX suspension, marketing services “rollup” Photon (ASX:PGA) has announced a highly dilutive $A102.5m+ capital raising partly underwritten by Macquarie Bank and UBS. In parallel, the board has announced the departure of former executive chair and cofounder, Tim Hughes from the board. The company has […]

Photon in A$23m Hostile Bid for Domain Name Firm Dark Blue Sea

2nd Oct 2009. Photon has launched a hostile takeover of Brisbane-based Dark Blue Sea, sending its shares 50% higher to 30 cents. The move follows attempts by Photon to acquire DBS in January 2007, and on market activity earlier this year leaving ASX-listed Photon as DBS’ biggest shareholder with a 30.55% stake. In a statement put out by Photon […]