The company has sold its Enterprise Services Division, and its name, leaving only the SMB Division. :
Arq Group, formerly Melbourne IT, has announced the sale of its Enterprise Services Division for a cost of AU$35 million, leaving the Australian Securities Exchange (ASX)-listed company with only its SMB Division and the need for a new name. The buyer is an entity owned by Quadrant Private Equity and three members of the Enterprise Services Division management team, including its outgoing CEO Tristan Sternson. Arq will lose its name in the process, selling the rights to the Arq brand, too.