Daily Roundup

Codan Snaps Up Eventide Communications in $244 Million Deal

Australian tech company Codan is making a significant move into mission-critical communications. Through its Zetron subsidiary, the company has agreed to acquire US-based Eventide Communications LLC for approximately $244 million. Eventide, which has been around since 1971, specializes in recording and analytics solutions for emergency services and critical operations, with over 9,000 recorders deployed across 80 countries.

The deal aims to beef up Zetron's command-and-control ecosystem by integrating Eventide's recording, reporting, and operational insights capabilities. Codan expects the acquisition to close in early 2027 and deliver mid-single digit earnings per share accretion in the first full year. The company will fund the purchase through a mix of cash reserves, debt facilities, and deferred equity issuance.

Service Stream Pursues Programmed Acquisition

In a major consolidation play, Service Stream is acquiring Programmed, a leading facility and asset management services provider, for $975 million. The deal is expected to deliver over 20% earnings per share accretion on a pro forma FY27 basis, bolstered by $30 million in run-rate cost synergies. To fund the acquisition, Service Stream is raising $475 million through a $219 million placement and a $256 million entitlement offer, with completion targeted for around 1 March 2027. The company has requested a trading halt pending the announcement of the institutional capital raising outcome.

Goodman and Digital Realty Team Up on NEXTDC Stake

Goodman Group and Digital Realty have joined forces to acquire a 9.9% stake in data center operator NEXTDC through a 50:50 joint venture. The two companies picked up their shares at an average price of $9.22 per share. While both parties have no immediate plans for further engagement or takeover attempts, they've reserved the right to revisit that position if circumstances change. Both are seasoned data center investors and have signaled openness to collaborating with NEXTDC's board and management.

IGO Wraps Up Nova Nickel Operation on a High Note

IGO Limited has successfully concluded mining and processing at its Nova Nickel Operation, finishing stronger than expected. The operation delivered 21,340 tonnes of nickel production—7% above the top end of guidance—while cash costs came in at A$3.90 per pound of payable nickel, 8% below the lower end of updated guidance. Copper and cobalt production also beat revised targets. IGO expects to complete the divestment of Nova to Global Lithium Resources Limited in the coming weeks.

ANZ Reports Strong Earnings and Boosts Dividend

ANZ Group Holdings delivered impressive full-year results for the year ended 30 September 2026, with statutory profit climbing 23% to $7,270 million and cash profit surging 31% to $7,591 million. The bank proposed a final dividend of 83 cents per share, 80% franked, with a record date of 13 November 2026 and payment on 18 December 2026.

Beyond the headline numbers, ANZ achieved substantial operational wins. The bank delivered $902 million in gross cost savings, exceeding guidance, and is on track to roll out a single customer front-end to all Retail and SME customers by September 2027. Integration of Suncorp Bank is 60% complete, with full migration expected by June 2027. ANZ's return on tangible equity improved to 12.03%, and the bank maintained a robust balance sheet with a Level 2 Common Equity Tier 1 ratio of 16.6%. The company also made headway on its Root Cause Remediation Plan, strengthening its non-financial risk management framework.