• Cellnet shares soar 50% on takeover bid by German-based Wentronic Holding GmBH
  • Serko confident deal between CMT and Booking.com may increase its customer acquisitions
  • Technology One confirms its customer-facing SaaS platform not impacted by cyber attack

Cellnet Group (ASX:CLT)

The distributor of lifestyle technology products has seen its share price soar 50% today after announcing a takeover bid by German private company Wentronic Holding GmbH.

CLT said it had entered a Scheme of Implementation Deed (SID) with Wentronic, which will see shareholders receive 2.7 cents/share in cash, valuing the company at ~$6.6 million, and representing a premium of 50% on the company’s closing share price on May 10.

In 2017, Wentronic, a manufacturer and distributor of consumer electronics servicing more than 2600 clients globally, acquired a majority shareholding in CLT and currently holds with its associates ~53.2% of the company’s shares on issues.

To evaluate the proposal CLT has established an IBC comprising the company’s independent directors Tony Pearson (also chairman) and Giles Karhan.

CLT said the IBC unanimously recommends CLT shareholders (excluding the Wentronic ones) vote in favour of the scheme in absence of a superior proposal.

“The SID provides certainty for Cellnet shareholders in the context of an uncertain economic outlook,” Pearson said.

Wentronic CEO and managing director Michael Wendt said his company’s CLT offer “represents a compelling price” considering market conditions, its recent financial performance and future capital requirements.

We believe that the acquisition will benefit both the business and CLT customers, suppliers, employees and other stakeholders through Wentronic’s commitment to the market, greater financial stability and scale, and better integration with our global business,” he said.



The enterprise business software company has come out of a trading halt after announcing a cyber attack on Wednesday, confirming its customer-facing SaaS platform had not been impacted.

TNE said on Wednesday that an unauthorised third-party acted illegally to access its internal Microsoft 365 back-office system.

Today the company re-confirmed its customer-facing SaaS platform is not connected to the Microsoft 365 system and therefore had not been impacted.

“Technology One reaffirms that its internal back-office system was isolated to contain the incident, that the system was successfully restored and is fully operational,” the company said.

“Subsequently, third-party cyber security experts have confirmed our Microsoft 365 system is secure and there has been no further illegal activity detected.

“Our focus remains on the investigation into the incident to determine what data may have been accessed via our internal Microsoft 365 back-office system, and then as is necessary, to engage with impacted individuals on appropriate actions.”

TNE said it maintains administrative information on its back-office system.

“The information held by Technology One on its back-office system is separate to customer’s information and data on Technology One’s SaaS platform, which is safe and secure.”

Markets have reacted to the reassuring news with the TNE share price modestly up 0.41% in morning trade.


Serko (ASX:SKO)

Corporate travel and expense management company SKO has announced it expects to benefit from CWT’s new partnership with Booking.com to support an expanded Booking.com for Business offering.

Zeno is SKO’s next generation travel management application, with the company inking a deal in May 2022 with CWT, the ‘business-to-business-for-employees’ travel management platform.

Under the deal offer CWT is offering Zeno as a globally preferred travel booking tool.

SKO said the Booking.com for Business platform will combine Booking.com accommodation options with additional hotel, flight and car rental content provided by CWT, as well as multilingual customer service.

There will be no booking or servicing fees for customers. Complimentary access to CWT travel consultants will be provided in multiple languages to assist with trip management and disruption.

The new partnership is expected to go live in the second quarter of 2023.

SKO expects to benefit from the expanded offering through increased customer acquisition.

However at this stage, SKO is unable to quantify the size of those benefits and any net positive impact to future revenues.

“This is an exciting move, bringing two of our partners together through our Zeno technology platform to give business travellers a connected trip experience with all the business booking features, rates and service they want at no cost,” SKO CEO Darrin Grafton said.


The TNE, CLT & SKO share price today: