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Access here alternative investment news about Arq Group Finds Au$35m Enterprise Division Buyer To Help Reduce Debt
Private Equity

Arq Group Finds Au$35m Enterprise Division Buyer To Help Reduce Debt

by zdnet.com posted 1month ago 29 views
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.

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