The market loves particularly cashed up e-commerce companies (TVL, ASC) starting to make profits. SNX at these levels is dirt cheap and the market actually hates it. But when it turns a profit next year?
Sydney - Monday - June 3: (RWE) - Securenet Ltd has completed its $5.7 million purchase of the Australian and New Zealand operations and assets of e-security company Baltimore Technologies. The acquisition gives Securenet exclusive distribution rights for Baltimore products in Australia and New Zealand for the next 12 years. It also grants SecureNet non-exclusive rights to distribute Baltimore products throughout the rest of Asia as a Baltimore TrustedWorld partner. Securenet managing director Mr Geoffrey Ross said the transaction would make a positive contribution to the company's profit next year. Shares in Securenet last traded at 85c. ENDS
SNX Price at posting:
0.0¢ Sentiment: None Disclosure: Held