WICAT TO SELL ITS AUSTRALIAN UNIT TO FUJITSU

Wicat Systems Inc, Orem, Utah is to sell its Australian subsidiary, Wicat Systems Pacific Pty Ltd, to Fujitsu Australia Ltd – but will be selling it for less than book value. Terms were not disclosed, but the educational computer systems company, which says the $3m-a-year Australian and New Zealand business does not fit its current focus, will take a $1.5m reserve against the sale with its fourth quarter figures, reported in CI No 921.

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