4 Dec 2014

Business Briefs

1:48 pm on 4 December 2014

Freightways buys LitSupport

Freightways says it has bought the Australian firm, LitSupport, for up to $A30 million, depending on how well it performs.

LitSupport provided electronic and written document services to the legal industry.

Freightways said it would pay about $A17 million initially, with a potential further payment of up to about $A13 million, based on its 2017 full-year financial performance.

Managing director Dean Bracewell said in its first 12 months under Freightways' ownership, LitSupport will generate sales of $A17 million and operating earnings of almost $A4 million.

Freight volumes hit monthly record

The International Air Transport Association says freight volumes have hit a new monthly record.

It says its measurement of demand, which is based on weight and distance travelled, jumped 5-point-4 percent in October, compared to the same month last year.

When October is compared to September, demand expanded by 0-point-7 percent.

The association says the strong results reflect improvements in world trade and business activity.

It says demand is now at levels not seen since the 2010 post-recession bounce-back.

Blastware 'a significant threat'

A network-security firm, Fortinet, said among the most significant cyber security threats for next year is blastware.

That was where hackers infiltrated systems, gathered data and then wiped out the information on systems and hard drives.

Fortinet said cyber criminals would continue to hone their prowess in terms of attacks as time goes on.

Fortinet said businesses, government organisations and consumers were all at risk.