Join us in Wellington 4th December and Auckland 27th November
Want to help us test an ads-free Geekzone? Register for webpass now

Geekzone: technology news, blogs, forums
Welcome Guest.
You haven't logged in yet. If you don't have an account you can register now.
New Zealand Superannuation Fund buys New Zealand Post shares on Datacom Group
Posted on 17-Dec-2012 09:09. | Tags Filed under: News.

Datacom Group Ltd has announced the New Zealand Superannuation Fund (NZSF) will be purchasing the shareholding in Datacom currently held by New Zealand Post.

New Zealand Post has been a shareholder in Datacom since 1990 and until the approval of this one-off transaction has held 35% of Datacom’s ordinary shares.

Datacom Board Chairman John Holdsworth says, “We welcome New Zealand Superannuation Fund to the Datacom Group and the Datacom Board.

We’re a New Zealand owned technology services company and long term IT sector innovators and we look forward to a productive partnership with NZSF. We welcome the energy and in-market expertise that this organization will bring to our board and the wider Datacom Group.

We thank NZ Post for their long-standing commitment and acknowledge our ongoing, productive working relationships.”

Brian Roche, CEO of New Zealand Post, says, "New Zealand Post has enjoyed a long and successful partnership with Datacom. The divestment of our shareholding is driven by broader strategic demands of the New Zealand Post Group. We are a significant customer of Datacom and look forward to an on-going strong business relationship.”

New Zealand Post has enjoyed significant returns over this partnership of twenty two years that has seen the Datacom Group show a 10 year compound annual growth rate of 14% for revenue and 10% for profit.

John Holdsworth, “Datacom is a 47 year old business and we’ve maintained an unbroken track record of delivery and market share growth. This shareholder change signals an opportunity for our next phase of strategic advancement in the IT sector and across our Australasian geographies.”

The shareholding of Datacom’s major shareholder Evander Management Ltd, the family company of Chairman John Holdsworth, will remain unchanged.

comments powered by Disqus

Trending now »

Hot discussions in our forums right now:

Ford Eco Sport Titanium-Looking to buy
Created by psychrn, last reply by nakedmolerat on 27-Nov-2015 16:08 (31 replies)
Pages... 2 3

A 17 second violation of airspace? Is Turkey nuts?
Created by DaveB, last reply by xlinknz on 27-Nov-2015 16:32 (79 replies)
Pages... 4 5 6

Black Friday 2015 - Post Deals here
Created by Finch, last reply by jamesplay on 27-Nov-2015 16:21 (36 replies)
Pages... 2 3

Huawei and 2degrees Nexus 6P 64/128 GB offer for Geekzone users
Created by freitasm, last reply by droopanu on 27-Nov-2015 15:58 (679 replies)
Pages... 44 45 46

Clock teen to sue for $23m
Created by TimA, last reply by eracode on 27-Nov-2015 15:45 (35 replies)
Pages... 2 3

Has Trade Me had its day?
Created by Rikkitic, last reply by richms on 27-Nov-2015 13:29 (95 replies)
Pages... 5 6 7

Google Nexus 6P Owners Discussion
Created by Finch, last reply by hadenkose on 26-Nov-2015 13:21 (315 replies)
Pages... 19 20 21

Noel Leemings - thanks for spoiling the surprise!
Created by scuwp, last reply by Hiamie on 27-Nov-2015 17:37 (12 replies)