22/01/2008

Connexionz (NZAX:CNX) today announced that it had acquired the remaining 50% shareholding in its UK joint venture Connexionz Investments Ltd (CIL). Connexionz now owns 100% of the UK operation.

CIL’s shareholders accepted 1,875,000 CNX shares at a price of NZD 0.25 per share in return for their holding.

Connexionz’s Chairman Craig Boyce said, “Its in the best interests of both companies to be part of one global organisation.”

Connexionz has won a NZD 1.1m order to provide new in-bus computers for Reading Borough Council. The new computers will support multimedia applications on the buses and a new WiMAX communications network.

The company’s systems allow bus passengers to find out how far away a bus is from their stop in real time. The system also provides operational information for bus system operators and urban planners. Connexionz’s systems are operating in the UK, the Netherlands, Brazil, Australia, New Zealand and the USA.