Telstra 2016 Annual Report Download - page 139

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Section Title | Telstra Annual Report 2016
Telstra Corporation Limited and controlled entities | 137
Notes to the financial statements (continued)
Section 6. Our investments
This section outlines our group structure and includes
information about our controlled entities, joint ventures
and associated entities. It provides details of changes to
these investments and their effect on our financial position
and performance during the financial year. It also includes
the results of our material joint ventures and associated
entities.
SECTION 6. OUR INVESTMENTS
6.1 Changes in the group structure
6.1.1 Current year acquisitions
There were no material acquisitions during the year ended 30 June
2016. The individually immaterial acquisitions have been
summarised below.
On15 April 2015, we acquired 100 per cent shareholding in Pacnet
Limited and its controlled entities (Pacnet Group) with the exception
of Pacnet Service (USA) Inc. (Pacnet US). Acquisition of Pacnet US
was subject to regulatory approval in the United States and was
carved out of the acquisition of the Pacnet Group. On 2 July 2015,
following the receipt of the US regulatory approval, we completed the
acquisition of Pacnet US. This completed our acquisition of the
Pacnet Group.
On 8 July 2015 and 30 September 2015, we acquired the businesses
of Sesco (Security) Co Pty Ltd and Haste Control Services which
provide electronic security and monitoring systems.
On 31 July 2015, we acquired 100 per cent shareholding in Health IQ
Pty Ltd (Health IQ). Health IQ provides integration solutions between
disparate hospital information systems.
On 30 November 2015, we acquired the business known as EOS
Technologies (EOS) which provides aged, disabled and terminally ill
people with personal health care services.
On 29 February 2016, we acquired 100 per cent shareholding in The
Silver Lining Consulting Group Pty Ltd and its controlled entities
(Kloud). Kloud is a leading specialist in cloud and collaboration
solutions.
On 30 June 2016, we acquired the network consulting, engineering
and services business of CBO Telecommunications Pty Ltd, which
provides technologies and networks used in mine sites and other
remote locations.
On 30 June 2016, we acquired 100 per cent shareholding in Readify
Limited and its controlled entity Huegin Consulting Group Pty Ltd
(Readify). Readify provides application development and software-
focussed consulting and managed services.
Table A summarises the effects of these acquisitions.
Cash consideration includes other completion adjustments related
to prior period acquisitions.
Table A
Telstra Group
Year
ended
30 June
2016
$m
Consideration for acquisitions
Cash consideration 91
Contingent consideration 8
Non-cash consideration 2
Total purchase consideration 101
Cash balances acquired (3)
Contingent consideration (4)
Non-cash consideration (2)
Outflow of cash on acquisitions 92
Fair
value
Assets/(liabilities) at acquisition date
Cash and cash equivalents 3
Trade and other receivables 41
Current tax receivables 1
Property, plant and equipment 25
Intangible assets 29
Trade and other payables (53)
Revenue received in advance (2)
Provisions (1)
Current tax payables (1)
Other liabilities (3)
Deferred tax liabilities (6)
Net assets 33
Goodwill on acquisition 64
Contingent consideration 4
Total purchase consideration 101