Oxygen sale possible by Christmas

The company is in the final stages of negotiating a deal

Oxygen is in the final stages of negotiating a deal to be acquired, says managing director Mike Smith.

“The whole process is progressing well,” he says.

“We’re close, but we’re not at a stage where we can disclose anything,” he told Computerworld last week.

He wouldn’t be drawn on whether the prospective buyer was local or overseas, but says “we’re looking at a very positive outcome — it’ll be a good match and will be good for the future of Oxygen and its staff.”

Smith says it’s not possbile to give a definite timeframe for when the deal will be finalised, but the company is aiming for it to happen “this side of Christmas”.

Oxygen first announced it was for sale in September, following a review of operations by parent company Carter Holt Harvey.

The sale is only of Oxygen’s SAP consulting division; the other division of Oxygen, which provided in-house IT services to the rest of Carter Holt, will remain with Carter Holt.

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