Sydney - Tuesday - April 4: (RWE Australian Business News) -
Search engine and online media company Ansearch Ltd (ASX code: ANH) has
entered an agreement to acquire Mambo Communities Pty Ltd, the leading
supplier of websites and services to the global community of Mambo
software developers.
Directors point out the agreement comes within days of Mambo
winning the Best Open Source Software Award for 2006 at Linux World.
They say Ansearch will also acquire the Mambo Communities
websites to ensure long-term support of the Mambo developers.
"While open source software itself is and will always be free,
it is universally accepted that it is imperative to have financially
sound commercial support," Mr Peter Lamont from Mambo Communities said.
"The involvement of commercial enterprises like Ansearch ensures
continued funding for future growth and development of open source
projects around the world," he said.
The acquisition is for up to $1 million in cash and Ansearch
shares, dependent upon certain performance criteria.
The deal is based on the original costs incurred in developing
and running the tools to operate the Mambo Communities websites and
services.
The share issue is subject to shareholder approval at an EGM, to
be held before May 30. The agreement is subject to due diligence of
Ansearch to be completed by April 30.
Shares in Ansearch traded steady at 7.1c today.
ANH
ansearch limited
