Digital services agency Invigor (previously Hyro) has appointed three new directors to its board, including Channel Ten helicopter traffic reporter Vic Lorusso.
Invigor earlier this year sold its main assets to larger global rival Kit Digital, ending a drawn-out negotiation process that had been fraught with difficulty since the potential acquisition first surfaced in December last year.
In September the new entity revealed it would buy almost half of multinational information technology company Global Group Australia. It spent $1.76 million for 40 percent of Global Group’s business, paid in 4.76 million Hyro shares at $0.37 per share.
It also subscribed to a $2 million convertible note facility to Global Group, to be redeemed on the third anniversary of issue, which will bring Hyro’s ownership of Global Group to 58.6 percent.
Under the deal, Hyro acquired Global Group businesses Social Loot, online sporting event registration system Global Entries Online, digital solutions agency Global Internet Technologies Australia and 40 percent of recruitment management system Recruitment Adviser.
It also appointed former iSoft executive Gary Cohen and brother Greg Cohen to the board of directors, alongside former Hyro CEO Anthony Poiner.
Today it announced Global IT CEO Gary Munitz and COO Danny Sekers had also been named members of the board.
Lorusso also scored a spot on the board thanks to his "success and experience in communications and media". Lorusso, alongside his TV reporter and radio presenter gigs, is also a real estate agent and licensed auctioneer.
As part of the acquisition, completed in June, Invigor agreed to change its name from Hyro to Invigor, which it said meant to give life and energy, and was appropriate given the company’s future direction.
Updated: 4:30pm 1/11/12 to accurately reflect deal with Kit Digital.
-1.jpg&w=100&c=1&s=0)
.png&w=100&c=1&s=0)
