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MessageNet sold for multimillion-dollar price tag
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Clayton Utz, AMP challenged by ASIC over failure to produce documents:

MessageNet sold for multimillion-dollar price tag

A messaging solutions company has been acquired by MessageMedia for $14.8 million.

Firms: Clayton Utz (Salmat); Maddocks (MessageMedia)

Deal: MessageMedia has acquired MessageNet from Australian marketing services company Salmat.

Value: $14.8 million

Area: M&A

Key players: Maddocks partner Catherine Debreceny led the deal. Senior associate Paul Ellis assisted in the transaction.

Deal significance:

The deal will see MessageMedia, a leading provider of business messaging products in Australia, complete the acquisition of MessageNet on 29 December 2017.

A statement from Maddocks said the firm assisted MessageMedia in negotiating the terms of the acquisition, the structure of the transaction, due diligence and will assist in transaction completion.

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