Clarity Assets Sold and Placed into Administration

Industry blog Passionate About OSS picked up on more news from the Australian Stock Exchange (ASX) regarding Clarity’s attempt to find a buyer. While information is thin, it looks like a deal has been done.

On 24 June 2014, Clarity OSS Limited and its secured creditor (CPS Group Investments Pty Ltd) had entered into an agreement to sell most of the Clarity Group’s assets to the Australian subsidiary of a US quoted corporation, this sale was finalized on 3 July 2014.

On 4 July 2014 Clarity announced to the ASX that its directors have resolved to place the company into voluntary administration.

Ryan Jeffery from Passionate About OSS adds:

The buyer of Clarity’s assets is rumored to be Synchronoss but no official announcement appears to have been made yet.

We’ll see if Ryan’s M&A speculations are more accurate than my usually wildly incorrect guesses…

You can review all the ASX announcements on their Clarity page, here.