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Australian technology company saved after takeover thanks to a $150 million price cut

A 42-year-old Australian networking equipment company is poised to escape the corporate scrap heap after being bought by a Nasdaq-listed minnow for A$7 million ($10.6 million).

NetComm, which created Australia’s first dial-up modems and now produces wireless networking equipment, was bought from the ASX in 2019 for $161 million in cash by US company Casa Systems. Some minority shareholders then claimed that the price was too low.