Latest It Services Sector News

MLG Oz Limited has locked in a new two-year contract with Fortescue subsidiaries to provide crushing and screening services at multiple Western Australian mine sites, reinforcing its foothold in the mining services sector.

Service Stream Limited has extended its contract with NBN Co to continue upgrading the ACT’s fibre network, securing $360 million in revenue over 3.5 years.

Johns Lyng Group has entered a binding scheme implementation deed with Pacific Equity Partners for a $1.1 billion acquisition at $4.00 per share, representing a significant premium and a 10.3x EV/EBITDA multiple. The transaction awaits shareholder and regulatory approvals, with major shareholder backing and a clear timetable set for late 2025.

StepChange Holdings Limited has initiated an initial public offering to raise up to $15 million, aiming to acquire StepChange Consultants Pty Ltd, a prominent SAP ERP consulting firm. The move positions the company to capitalize on the expanding IT services market in Australia and New Zealand.

ARC Funds Limited has voluntarily suspended trading on the ASX pending a crucial announcement about its proposed capital raising, signaling a pivotal moment for the investment fund.

L1 Capital and Platinum Asset Management have formalised their merger with a binding agreement, promising continuity for L1 Long Short Fund's management and strategy.

Findi Limited will have its trading suspension lifted on 2 July 2025 following the lodgement of its 2025 annual report, reopening its shares to market activity.

Findi Limited has appointed DAM Capital and Ambit as lead managers for the IPO of its Indian subsidiary, Transaction Solutions International, targeting a valuation near A$900 million and a 2026 listing.

Engenco Limited is set for trading suspension and delisting from the ASX after Elph Investments secures a 95.57% stake and moves to compulsorily acquire remaining shares.

Macmahon Holdings has locked in a new $550 million syndicated debt facility, extending maturity to 2029 with improved terms and robust bank backing. This refinancing positions the company for strategic growth while maintaining a conservative liquidity stance.

Centuria Capital Group announces a 5.20 cents per stapled security final distribution for June 2025, suspending its Distribution Reinvestment Plan for this payout.

Monash IVF Group has affirmed its compliance with ASX continuous disclosure rules following a clinical incident involving an embryo transfer error at its Clayton laboratory. The company clarified the materiality and timing of its disclosures in response to ASX inquiries.