Telstra eyes parts of Wynyard, reports say

Part of failed crime-fighting software company Wynyard could be bought by Australian telecoms giant, Telstra, Fairfax Media has reported. 

Neither Telstra or administrators KordaMentha have responded to requests for comment. 

The report suggests that Telstra is seeking to buy the Christchurch-based company's Cognevo business, which supplies software to business customers. The deal is said to be conditional on enough staff being willing to be employed by Telstra. 

Christchurch-based Wynyard went into voluntary administration last month after failing to secure emergency funds to keep it going from UK lender Skipton Building Society. 

It listed on the NZX in 2013, with investors paying $1.15 a share. The stock closed as high as $3.12 in March 2014 but shares were worth just 21.5 cents when the company eventually went under.

BusinessDesk.co.nz

Comments from our readers

No comments yet

Add your comment:

Your name:
Your email:	Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Anti-spam verification:

Type the text you see in the image into the field below. You are asked to do this in order to verify that this enquiry is not being performed by an automated process.

Related News:

CVT - Update on banking facilities
April 9th Morning Report
April 8th Morning Report
ATM - In principle agreement to settle shareholder class action
SUM - 1Q26 Metrics - Sales of Occupation Rights
GMT corporatised and stapled structure completed
April 7th Morning Report
KMD completes Placement and Institutional Entitlement Offer
SML - North Island asset sale completed
RAD - Radius Care Expansion Continues with Care Home Acquisition