Strife was meant to be Eisa

"Under the agreement, Eisa was required to have financing commitments in place last month. It is clear that Eisa is not in a position to meet that requirement," UUNet said in a statement released today.

Eisa's intended acquisition of OzEmail, worth an estimated $350 million, came to grief earlier this week when Fairfax online division f2 announced it had ended its memorandum of understanding with Eisa.

According to the deal, f2 was to pay $40 million to acquire a 5 per cent equity stake in Eisa at $2 per share.

Further strife hit Eisa today, as market spectators watched shares plummet well below 40 cants today, following yesterday's announcement that Eisa chairman John Pascoe and director Michael Ball had both resigned for medical reasons.

Prior to the stock market crash, Eisa shares were trading as high as $3.18, before plunging to 93 cents on the morning of April 17.

Other funding for the OzEmail acquisition was to come from Mike Fitzpatrick Hastings Funds Management, ANZ and Disney.

OzEmail is Australia's second largest ISP, claiming a subscribing customer base of 350,000.

UUNet said in its statement that it would consider other offers to sell off OzEmail "if the right opportunity was presented".

UUNet refused to comment and Eisa did not return IDG's calls.

Join the newsletter!

Error: Please check your email address.
Rocket to Success - Your 10 Tips for Smarter ERP System Selection
Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.

Byron Kaye

PC World
Show Comments

Most Popular Reviews

Latest Articles

Resources

PCW Evaluation Team

Sarah Ieroianni

Brother QL-820NWB Professional Label Printer

The print quality also does not disappoint, it’s clear, bold, doesn’t smudge and the text is perfectly sized.

Ratchada Dunn

Sharp PN-40TC1 Huddle Board

The Huddle Board’s built in program; Sharp Touch Viewing software allows us to easily manipulate and edit our documents (jpegs and PDFs) all at the same time on the dashboard.

George Khoury

Sharp PN-40TC1 Huddle Board

The biggest perks for me would be that it comes with easy to use and comprehensive programs that make the collaboration process a whole lot more intuitive and organic

David Coyle

Brother PocketJet PJ-773 A4 Portable Thermal Printer

I rate the printer as a 5 out of 5 stars as it has been able to fit seamlessly into my busy and mobile lifestyle.

Kurt Hegetschweiler

Brother PocketJet PJ-773 A4 Portable Thermal Printer

It’s perfect for mobile workers. Just take it out — it’s small enough to sit anywhere — turn it on, load a sheet of paper, and start printing.

Matthew Stivala

HP OfficeJet 250 Mobile Printer

The HP OfficeJet 250 Mobile Printer is a great device that fits perfectly into my fast paced and mobile lifestyle. My first impression of the printer itself was how incredibly compact and sleek the device was.

Featured Content

Latest Jobs

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?