Oxygen owner up for sale in Australia
- 05 July, 2010 22:00
UXC, the Australian firm that owns New Zealand SAP services provider Oxygen, is up for sale across the Tasman.
A recent disclosure to the Australian Stock Exchange notes that UXC is undergoing due diligence by an unnamed party that is interested in buying it. UXC indicated earlier this year that it was open to sale offers.
According to the ASX statement, UXC’s IT Group is on track for a record financial result, with revenue of $A450 million anticipated. The IT group includes Oxygen and the former New Zealand Oracle services provider Sequel Software, which is now a division of UXC-owned Oracle provider Red Rock Consulting.
However, other parts of UXC haven’t fared so well, with a division of the business that operated in the environmental field being affected by the sudden ending of rebates for home insulation and solar energy installations.
Oxygen began as a division of Carter Holt Harvey, and then started providing SAP consulting services to organisations implementing SAP, following Carter Holt Harvey’s own implementation. It was bought by UXC in 2005.