Latest It Services Sector News

Babylon Pump & Power has completed two key acquisitions, expanding its water services platform and enhancing earnings with minimal integration risk. These moves position the company for sustained growth in the mining services sector.

Sequoia Financial Group has launched a dedicated AFSL Governance Committee to bolster oversight across its licenses, appointing former ASIC Commissioner Danielle Press as Independent Chair.

Norwood Systems has extended the repayment date on its key loan facility to August 2025, underscoring the critical role this funding has played in securing a major Optus contract and supporting its growth ambitions.

FlexiRoam Limited has achieved profitability in Q4 FY25, marking a significant turnaround with a positive EBITDA and net profit. Founder Jefrey Ong is appointed permanent CEO to steer the company’s next growth phase.

Atturra Limited is set to acquire Blue Connections Pty Ltd for $18 million upfront plus earn-out, significantly boosting its managed services portfolio and establishing a new Victorian hub.

Domain Holdings Australia has set the second court hearing for its proposed CoStar scheme of arrangement on 6 August 2025, clarifying an earlier date error.

ASF Group Limited reported a stable cash position of $1.3 million as of June 2025, accepted a takeover offer for its stake in Rey Resources, and continued to develop its innovative technology and biotech investments.

Perenti Limited’s underground mining subsidiary Barminco has been hit with a $46 million legal claim from MMG Dugald River Pty Ltd related to a completed contract at the Dugald River Mine. Barminco denies liability and plans to vigorously defend the case while pursuing a counterclaim.

Turners Automotive Group has issued over 324,000 new shares under its Dividend Reinvestment Plan for the FY25 final dividend, slightly increasing its capital base.

Freelancer Limited has posted a notable financial turnaround in the first half of 2025, reporting a net profit of $1.9 million on the back of 8.5% revenue growth and improved cash flow. The company’s strengthened balance sheet and strategic share acquisition position it well for future growth.

Domain Holdings Australia has received a draft class ruling from the ATO that aligns with its previously disclosed tax positions for the upcoming CoStar acquisition scheme. The final ruling, expected post-implementation, will provide definitive tax clarity for shareholders.

Mineral Resources Limited’s majority-owned Resource Development Group has entered voluntary administration, prompting MinRes to prepare for a significant non-cash impairment in its FY25 results. The unfolding administration process raises questions about the future of RDG and its impact on MinRes shareholders.