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NAB Makes $10 Million Investment In ASP

[Sydney, AUSTRALIA] The NAB's incubation business O2-e Limited has taken a $10 million equity stake in Peakhour, announcing an investment and distribution affiliation with the ASP platform provider.

Peakhour completed a $40 million second capital raising and said the deal with NAB would enable the bank to take advantage of its e-commerce offerings. O2-e managing director Glen Barnes said the ASP product would enable the National to offer a suite of digital business services including Internet access, domain registration, website building, hosting, e-commerce and ASP rental under a single account.

O2-e and its affiliate companies will be able to incorporate self-sourced ASP applications and NAB's Internet banking platform into Peakhour's ASPShuttle platform.