NZX sells NewsRoom to Sublime Group for undisclosed sum

NZX, the stock exchange operator, has agreed to sell its online news unit NewsRoom to Sublime Group for an undisclosed sum, after undertaking a strategic review of options for the business.

The sale will take effect from the end of the month and won't have a material impact on NZX's results or financial position, the Wellington-based company said in a statement. NZX bought NewsRoom in 2007 for $1.18 million, and started reviewing the unit's future with the stock market operator last year.

Auckland-based Sublime automates manual workflows to reduce the cost of doing business, according to its website. It counts Craig Pellett and Cowan Pettigrew as its biggest shareholders.

NZX shares were unchanged at $1.26 today.

(BusinessDesk)

This article is tagged with the following keywords. Find out more about My Tags

Comment & Question

Commenter icon key: Subscriber Verified

Post New comment or question

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.

NZ Market Snapshot

Forex

Sym Price Change
USD 0.7757 0.0060 0.78%
AUD 0.9460 -0.0009 -0.10%
EUR 0.6287 0.0048 0.77%
GBP 0.4951 0.0011 0.22%
HKD 6.0167 0.0467 0.78%
JPY 91.9530 0.4980 0.54%

Commods

Commodity Price Change Time
Gold Index 1189.4 -2.770 2014-12-17T00:
Oil Brent 61.2 -1.020 2014-12-17T00:
Oil Nymex 56.8 0.920 2014-12-17T00:
Silver Index 15.9 0.138 2014-12-17T00:

Indices

Symbol Open High Last %
NZX 50 5496.6 5532.8 5496.6 0.40%
NASDAQ 4556.9 4651.9 4547.8 2.12%
DAX 9711.6 9767.5 9544.4 1.99%
DJI 17069.2 17389.3 17068.9 1.69%
FTSE 6336.5 6411.2 6336.5 0.98%
HKSE 22878.3 22935.0 22585.8 1.09%
NI225 17143.0 17274.2 16819.7 2.32%