MOQ ceases ASX trading

MOQ will officially delist from the Australian Securities Exchange (ASX) on 21 November following its $23 million acquisition by Brennan. 

The Federal Court of Australia approved the acquisition of ASX-listed MOQ on 10 November, three months after Brennan won a bidding war against Atturra to acquire MOQ for $0.075 per share. 

Recently Brennan’s founder and managing director Dave Stevens claimed he was considering listing on the ASX in the next 12-to-18 months, among other capital raising options.  

Stevens, who rejoined Brennan in 2020 following a five-year hiatus, added that Brennan will pursue an aggressive organic growth strategy alongside more acquisitions. 

“Brennan’s clear differentiator is that we are local, have great people all over the country and are able to tailor local solutions to overcome issues unique to Australia,” Stevens said. 

“The MOQ acquisition and the recent Clade Solutions acquisition means we can provide even better services to our clients, with local experts who are highly skilled in data analytics, business transformation and consulting.”

In 2015, Montech Holdings Limited relisted on the ASX following a successful capital raising of $4.3 million and a dual acquisition of Technology Effect and Breeze Training.

The two then merged into a single entity, MOQ Digital, forming part of a new strategic focus to create a national cloud managed services provider to innovate and develop cloud products and solutions on Microsoft Azure.