MLB: Melbourne IT Sells 10% Stake in NeuLevel for $5.8m
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[March 06, 2006]

MLB: Melbourne IT Sells 10% Stake in NeuLevel for $5.8m

(Aspect Huntley's ComNews Digest Via Thomson Dialog NewsEdge)Melbourne IT sold its 10% stake in domain name registry, NeuLevel to the majority shareholder, NeuStar for $5.8m. The transaction will be reflected in the company's profits for 2006 in the amount of $4.47m. The proceeds will increase the company's cash balance, and strengthen ability to pursue acquisitions in Australia and overseas. It will also enable the company to consider lifting the future dividend payout ratio.


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