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Uses Singapore product launch as springboard for the broader Asian region.

Listed tech company names former NAB GC as chair Listed tech company names former NAB GC as chair Share MNF Group Limited has appointed the former NAB Australia and Asia general counsel, who was also a partner at two national law firms, as its new chair. MNF (ASX: MNF), which listed in 2006, has named Anne Ward as an independent director and chair of its board, effective immediately. Ms Ward most recently served as chair of fellow listed company Redbubble, is a director of the Foundation for Imaging Research, is a council member at RMIT University and is governor of the Howard Florey Neurosc...

MNF Group has finalised its deal with Vonex for the sale of part of the company’s direct business for $31 million. The two signed the conditional term sheet on 7 June and MNF Group told shareholders today that all conditions of the deal had been satisfied including detailed due diligence. At the time Vonex said the deal would help materially expand its footprint of small-to-medium enterprise and residential customers across Australia, as well as bring in new channel partners. As part of the deal, Vonex also agreed to enter into an exclusive Symbio wholesale supply agreement for phone number...

MNF has offloaded its small business and residential business, which includes cloud phone, mobile and internet services under the MyNetFone brand. The deal does not include the MyNetFone name. The sale comes as MNF looks to simplify its business and focus on its Symbio wholesale business. MNF acquired VoIP wholesaler Symbio Group in 2012. Vonex said the deal would help materially expand its footprint of small-to-medium enterprise and residential customers across Australia, as well as bring in new channel partners. As part of the deal, Vonex also agreed to enter into an exclusive Symbio wholes...

MNF Group has posted impressive profit growth for H1 FY21 despite no significant increase in revenue, showing a 10 percent increase in gross margin to nearly $50 million. In the company’s latest ASX release, MNF reported an EBITDA of $19.6 million, a 16 percent year-on-year increase, with an after-tax net profit of $8.4 million, a 30 percent increase. As part of a strategic review of its direct business, MNF divested itself of Pennytel, selling the subsidiary to one of its domestic wholesale customers, Macarthur Telecom. "The agreement enables MNF to continue to realise benefits of the Pen...