Seisma Group completes $8.5m takeover of Fronde Systems Group

Fronde Systems Group CEO Jason Delamore. (Image: NZME)

Mon, 31 Oct 2022

Australian IT services firm Seisma Group has completed its nearly $8.5 million takeover of Fronde Systems Group.Seisma, through its recently registered NZ subsidiary, LVP Tech NZ Bidco Ltd, set up specially to make the offer, officially launched its bid in September to take the Wellington-headquartered IT group over at $1.152 a share. It came after several months of confidential talks going back to November last year when the two parties entered into a confidentiality agreement, with Seisma beginning its due diligence in May. 'Str...

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