Eisa Dealt Another Blow by f2

In April, f2 announced it would manage and provide content for the portal of the combined Eisa/OzEmail business.

However, Eisa's proposed $300-350 million deal to acquire OzEmail has been hampered due to the so-called market correction in mid-April, which saw internet stocks, including Eisa shares, drop dramatically.

Under the original deal, f2 was to pay $40 million to acquire a 5 per cent equity stake in Eisa at $2 per share. Since Black Monday (April 17), Eisa shares have dropped continually, recording an all-time low today of 53 cents. 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.

Nigel Dews, chief executive of f2, admitted the market downturn had contributed to f2's decision to pull out of the deal, despite efforts to agree on new terms.

"We were unable to come to an arrangement on the deal in terms of what will work for shareholders," he said.

Dews, however, did not rule out the possibility of renegotiating a deal at some later stage should OzEmail be acquired by another player or should the market improve.

"OzEmail remains an attractive asset, so who knows? Our doors are always open for deals," he said.

According to Dews, f2 will continue to develop distribution deals through a number of different channels. "We will continue to work towards other options . . . portals are one of many options. This was one possible route," he said.

Eisa did not return calls before press time.

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.

Luisa Bustos

PC World
Show Comments

Cool Tech

Breitling Superocean Heritage Chronographe 44

Learn more >

SanDisk MicroSDXC™ for Nintendo® Switch™

Learn more >

Toys for Boys

Family Friendly

Panasonic 4K UHD Blu-Ray Player and Full HD Recorder with Netflix - UBT1GL-K

Learn more >

Stocking Stuffer

Razer DeathAdder Expert Ergonomic Gaming Mouse

Learn more >

Christmas Gift Guide

Click for more ›

Most Popular Reviews

Latest Articles

Resources

PCW Evaluation Team

Ben Ramsden

Sharp PN-40TC1 Huddle Board

Brainstorming, innovation, problem solving, and negotiation have all become much more productive and valuable if people can easily collaborate in real time with minimal friction.

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.

Featured Content

Product Launch Showcase

Latest Jobs

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?