Fundi Software leaves the KAZ group

1 May 2006: Fundi Software today announced that it is leaving the KAZ Group, Telstra's ICT and IP services subsidiary, in a management buy-out.

Fundi had been part of the KAZ Group since KAZ acquired Fundi's services and products businesses in 2000. Fundi's services business has been integrated with KAZ, with the products business remaining in Fundi Software.

Fundi Managing Director, David Mierowsky, believes that separating from the Telstra group ensures Fundi's long-term viability, allowing the company to respond more rapidly to its customers' needs.

"The change will allow us to make plans and decisions that are in the interest of the company, its employees and its customers, rather than in the interest of our corporate parent," he added.

Mike Foster, CEO of KAZ said, "Fundi Software, whilst profitable and a highly respected enterprise systems management business, is no longer core to KAZ's business plan of delivering ICT and IP services that leverage the Telstra network."

Fundi's customers, partners and employees are expected to be unaffected by the change.