Management acquires Iguana2 from Solution 6 Holdings.
Announcement posted by Iguana2 20 Jul 2002
The management of Iguana2 today announced that they have purchased Solution 6 Iguana Pty Ltd (trading as Iguana2) from Solution 6 Holdings (ASX:SOH). Financial details of the agreement are not disclosed.
Founded in Wellington, New Zealand in 1994 Iguana2 was purchased by Solution 6 in 1999 and the company moved to Sydney Australia. Now the two original Kiwi founders and current management of the company, Adam Rands and Scott Cooper have the business back in their hands.
"Iguana2 is no longer a part of Solution 6's core business so it made sense for them to divest the asset," Adam Rands, COO of Iguana2 says. "As myself and Scott have worked at the company since its inception, a management
buyout ensures continuity of service for our clients and future growth of the business."
Iguana2 supplies sharemarket data solutions to a wide variety of clients including sharebrokers, websites and listed companies. Iguana2 also runs two popular sharemarket information websites, ShareChat.co.nz and
Stocknessmonster.com.
Iguana2 will continue to remain domiciled in Sydney and is looking to Australia and the Asia Pacific markets for growth opportunities.
With a number of blue-chip clients that include Australian telco's Telstra, Optus and New Zealand's largest discount sharebroker Access Brokerage, the future is looking bright for Iguana2.
"This is a very exciting time for Iguana2," Rands says. "We are developing a number of new products and services that will be applicable to both corporate and consumer markets."
"It is a pleasure to again own the company that myself and Scott founded back in '94 ," Rands adds. "Iguana2's longevity proves that we are operating in a viable and sustainable market. It is now up to management to capitalise on our experience."
Founded in Wellington, New Zealand in 1994 Iguana2 was purchased by Solution 6 in 1999 and the company moved to Sydney Australia. Now the two original Kiwi founders and current management of the company, Adam Rands and Scott Cooper have the business back in their hands.
"Iguana2 is no longer a part of Solution 6's core business so it made sense for them to divest the asset," Adam Rands, COO of Iguana2 says. "As myself and Scott have worked at the company since its inception, a management
buyout ensures continuity of service for our clients and future growth of the business."
Iguana2 supplies sharemarket data solutions to a wide variety of clients including sharebrokers, websites and listed companies. Iguana2 also runs two popular sharemarket information websites, ShareChat.co.nz and
Stocknessmonster.com.
Iguana2 will continue to remain domiciled in Sydney and is looking to Australia and the Asia Pacific markets for growth opportunities.
With a number of blue-chip clients that include Australian telco's Telstra, Optus and New Zealand's largest discount sharebroker Access Brokerage, the future is looking bright for Iguana2.
"This is a very exciting time for Iguana2," Rands says. "We are developing a number of new products and services that will be applicable to both corporate and consumer markets."
"It is a pleasure to again own the company that myself and Scott founded back in '94 ," Rands adds. "Iguana2's longevity proves that we are operating in a viable and sustainable market. It is now up to management to capitalise on our experience."