Menu
Rumours abound over sale

Rumours abound over sale

GEN-i continues to shrug off rumours that the company is about to be bought, but channel sources say that at least three suitors have been in sale talks with the systems integrator.

Unnamed sources have told Reseller News that Telecom, TelstraClear and Datacom have all shown an interest in purchasing the Eric Watson-owned company. Telecom and TelstraClear are considered to be serious contenders, while Datacom’s interest is cursory, sources say.

This follows a May 4 Computerworld article in which Gen-i CEO Garth Biggs said it is common knowledge that Gen-i is up for sale but no one has “fronted up with the right price” yet.

Biggs has since told Reseller News there is nothing new about TelstraClear’s and Telecom’s names being linked to a takeover of Gen-i. “I’ve been hearing similar rumours for years — that the deal will be consummated at the end of day. The strength of [these rumours] will be judged at the time they go away.”

He says Gen-i is often in talks with the two phone companies because his company partners with “them on many transactions”.

TelstraClear spokesman Matthew Boland says the company does not comment on prospective takeover bids.

Datacom executive chairman Frank Stephenson could not be reached for comment at the time of going to press.

Meanwhile, Biggs says the appointment of Pacific Retail Group director Stephen Smith to the Gen-i board in February is not related to any takeover rumours.

Smith, an independent director, has replaced Watson, who resigned from the board in December. “He’s our third independent director [and] brings a good understanding of governance. He brings some separation [between ownership and governance].”


Follow Us

Join the newsletter!

Error: Please check your email address.

Featured

Slideshows

Kiwi channel closes 2017 with After Hours

Kiwi channel closes 2017 with After Hours

The channel in New Zealand came together to celebrate the close of 2017, as the final After Hours played out in front of a bumper Auckland crowd.

Kiwi channel closes 2017 with After Hours
Meet the top performing HP partners in NZ

Meet the top performing HP partners in NZ

HP honoured leading partners across the channel at the Partner Awards 2017 in New Zealand, recognising excellence across the entire print and personal systems portfolio.

Meet the top performing HP partners in NZ
Tech industry comes together as Lexel celebrates turning 30

Tech industry comes together as Lexel celebrates turning 30

Leading figures within the technology industry across New Zealand came together to celebrate 30 years of success for Lexel Systems, at a milestone birthday occasion at St Matthews in the City.​

Tech industry comes together as Lexel celebrates turning 30
Show Comments