Telecommunications carrier Telstra has strengthened its relationship with financial software developer Computershare, the latest in a series of investments in Australian Net companies.
Telstra has exercised on option from an agreement signed in June to
increase its shareholding in Computershare from five to 15 per cent.
“In exercising these options, we are emphasising our confidence in the
continuing value in this relationship and the possibilities of shared
success in the financial services industry,” said Ziggy Switkowski,
CEO
of Telstra.
Ted Pretty, group managing director of convergent business at Telstra,
will
also be named to the Computershare board, according to the companies.
“Having Ted on our board will be good for our shareholders as the
relationship between Telstra and Computershare matures and continues to
bear fruit for both organisations,” said Chris Morris, MD of
Computershare,
“We share similar visions and enthusiasm for pursuing new markets and
extending the reach of our products, particularly in e-commerce and
Web-based technologies.”
Telstra, which is the incumbent public sector telecommunications
carrier in
Australia but which has had 49 per cent of its equity sold off in a
privatisation drive over the last few years, has been particularly
active
in the “angel investor” area recently.
The company also announced
earlier
this week it would take a 20 per cent stake in US-based Extant in
return
for becoming the Asia-Pacific partner in Extant’s plans to build
broadband
infrastructure.