"Given that IWG just finished a cap raising it seems odd to be coming out now with an announcement like this"
On the contrary, that is just what iWebGate do. Everyone is getting very excited about it, but as far as I can see EAS have simply sold their services to iWebGate. iWebGate then make an announcement saying how they have "appointed" EAS as their advisors. Personally, I am excited to announce that I have appointed Maccers as my lunch providers tomorrow.
This appears to be the opening salvo in the next campaign to raise more money. Shareholders clearly can no longer be relied on to provide more cash in a timely manner, so iWebGate are spending some of the last capital raising on someone who can hopefully improve their chances of success at the next capital raising.
Everything iWebGate does seems to be related to raising money. Bells pointed us at a conference they have just presented at. I went to have a look. A technology conference? A security conference? Nope, an investors conference. It is just about keeping the plates spinning.
At some point they are going to have to start selling their products, rather than parts of the company.
