Melbourne IT offloads digital recording division at a loss

The IT services company sells its ForTheRecord (FTR) business to Record Holdings for $6.3 million.

Melbourne IT has offloaded its digital recording division at a $1.2 million loss, with Record Holdings buying the business for $6.3 million.

The listed IT services company said that the ForTheRecord (FTR) business was no longer a strategic fit, as it sharpens its focus on internet services.

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