Market wrap: ASX heads into Easter with spring it its step
By Alex Druce
Australian shares steadied after a rickety start on Thursday with the major miners and tech stocks helping the market into the Easter break at a six-week high.
The benchmark ASX 200 registered back-to-back gains with a 0.6 per cent rise to 6828.7, its best close since February 25. Thursdayâs advance also meant the local bourse ended the holiday-shortened week with a narrow 0.1 per cent gain.
The iron ore triumvirate of BHP, Rio Tinto, and Fortescue Metals provided support throughout the session, and gold miners also rose as precious metals shone.
2/24/21
Codan Limited announced that it has entered into an agreement to
acquire 100% of the shares in U.S.-based company, DTC, from a private equity company. The acquisition is expected to be completed by April 30, 2021, subject to regulatory conditions typical for transactions of this nature.
DTC is an established commercially-off-the-shelf technology provider of high bandwidth wireless communications with capabilities in MIMO Mesh networks and next generation software defined radios that stream data across its self-forming and self-healing networks.
DTC is a trusted and long-term supplier for more than 20 key U.S. government agencies, as well as the Five Eyes intelligence communities, including Military, Special Forces, Border Control, First Responders and Broadcasters. DTC is headquartered in the U.S., with locations in the UK and Denmark.
A Codan Manpack . Source: The Lead.
Australian tech company Codan will pay more than $100 million to buy US-based Domo Tactical Communications from a private equity firm.
The South Australian technology company with business pillars in communications, mining automation and metal detector manufacture has been on a steep trajectory in the past 12 months, reporting a record profit of $64 million in August for the 2020 financial year.
The result included record sales in its communications and metal detection divisions, totalling $348 million, and established the Adelaide-based company as one of the South Australia’s fastest-growing companies.
Headquartered in Adelaide, South Australia, Codan has offices in North America, Europe, Asia, Africa, Australia and the Middle East and manufacturing operations in South Australia, Canada, the United States and Malaysia.