Business News Australia Pty Ltd

Michael Shanks, a Melbourne-based indie filmmaker behind the body horror film Together, has seen his movie acquired by US production company Neon in a deal understood to be worth US$15-$17 million ($24-27 million) following its premiere to a global audience at the Sundance Film Festival. Starring Alison Brie and Dave Franco, Together follows a ... https://lnkd.in/eW-sYSmt

Development and construction giant Lendlease Group (ASX: LLC) has reached an agreement with Japan's Sojitz Corporation to sell its stake in Capella Capital for $235 million, adding to a raft of capital recycling initiatives including sales of its $1 billion master-planned communities and US military housing business.  Capella... https://lnkd.in/eFnJB26s

Medicinal cannabis company Ecofibre (ASX: EOF) has announced it is taking “significant” action to tackle $25 million worth of debt, with the board looking to sell the group’s fibre seed crop company and slash day-to-day overheads in an attempt to shore up its financial position. In an update to shareholders, the company n... https://lnkd.in/eybPgv9f

Monash University spin-out Kite Magnetics is set to take its efficiency enhancing technology for electric motors to new heights, establishing a state-of-the-art advanced manufacturing facility in Melbourne’s southeast with investment support from the Victorian state government. Kite Magnetics' unique Aeroperm technology invo... https://lnkd.in/gKQWJi7v

Surging enterprise subscription sales continue to propel Sydney-based software giant Atlassian (NASDAQ: TEAM), with revenue soaring 21 per cent year-on-year to reach US$1.29 billion ($2 billion) for the second quarter of FY25. Subscription revenue, which includes cloud-based products such as project management software Jira, visual collabo... https://lnkd.in/gpean9P5

Medicinal cannabis company Althea Group (ASX: AGH) has withdrawn from a potential vape contract worth almost the same as a whole quarter of its revenue, citing regulatory, ethical, financial, and strategic concerns with the category. In its December quarter result today in which it received $9.01 million worth of receipts, up 20 per c... https://lnkd.in/geSsFKjV

Simonds Homes (ASX: SIO) will double its number of home designs on offer and expects to increase new construction starts by 25 per cent next financial year thanks to a $10 million acquisition of Dennis Family Homes Pty Ltd Homes, which has built 30,000 homes across Victoria and NSW since it was founded in 1982. https://lnkd.in/gDbJMQKT

A Brisbane-based cybersecurity firm that services tech giants such as Canva, Afterpay and Atlassian has been snapped up for what is understood to be more than $100 million by UK-based dark web intelligence firm Searchlight Cyber. Founded in 2018 by Michael Gianarakis and Shubham Shah, Assetnote focuses on Attack Surface Management – a cyber defence process that continuously monitors and assesses an organisation’s internal and external assets for vulnerabilities. https://lnkd.in/g3mxMFqA

Within two days of Brennan pulling out of the takeover race for AUCyber (ASX: CYB), Australia's largest privately-owned IT services provider Interactive has joined today with a $26.9 million offer. https://lnkd.in/e8puZkvh

The operator of Queensland tropical resort Hamilton Island has back-paid more than 2,000 past and present staff $28.1 million following an investigation by the Fair Work Ombudsman into underpayments over an eight-year period. Hamilton Island Enterprises Limited (HIE), which operates a range of accommodation businesses on Hamilton Island, also h... https://lnkd.in/et4wD4wj