Melbourne IT to Acquire WebCentral Group

[outsourcingplans]

Melbourne IT, a domain registration and WebCentral Group, a web hosting company, today announced that they have entered into a conditional agreement for Melbourne IT to acquire WebCentral Group via a Scheme of Arrangement to be voted on by WebCentral Group Shareholders at a Scheme Meeting, to be held in late August 2006.

Under the agreement of the acquisition, It is proposed that Lucy Turnbull and Sean Howard will join the Melbourne IT Board if the Scheme is approved. While Mr Hnarakis will continue in his role as Chief Executive Officer and Managing Director of the Group.

"Both new directors will bring valuable experience and business acumen, and we look forward to the contribution they can make to the combined business," said Melbourne IT Chairman Rob Stewart.

"The post merger group will bring together Melbourne IT's domain name and brand protection experience with WebCentral Group's hosting and business solution expertise -- This message may have been cut off and the rest will only be shown to members. To become a member, click here --