Spark New Zealand shares closed at NZ$2.10, down 45.1% over three years. A discounted cash flow model suggests the stock is worth meaningfully less than that price. The model starts with last twelve month free cash flow of about NZ$553.4m. It assumes cash generation falls into more modest projections by the early 2030s, in line with a mature telecom operator. The bullish view puts the stock 19% undervalued, citing partnerships with Nokia, Infosys, HPE, and Microsoft that could lower costs. The bearish view puts it 11% overvalued, noting FY26 adjusted revenue was flat at NZ$3.7b and adjusted EBITDA fell 2.4% to NZ$1.035b.

ISG announces 2026 ISG Women in Digital Awards winners for Asia Pacific. Information Services Group (ISG) (Nasdaq: III), a global AI-centered technology research and advisory firm, today announced the winners of the ISG Women in Digital Awards program for Asia Pacific, recognizing women and their achievements in technology roles. At a live, virtual award ceremony the evening of September 17, leaders with RiskSpan, Spark New Zealand, HCLTech, Wipro, Hamsa AI Labs and Microland Limited were honored as gold winners in six categories. Silver and bronze winners were also recognized, along with the down-selected finalists, known as luminaries, for each category. "Congratulations to the impressive and accomplished Asia Pacific winners of our ISG Women in Digital Awards," said Kimberly Tobias, partner, ISG, and program leader of ISG Women in Digital. "We are delighted to celebrate their successes and their impact on technology, business and the next generation of women leaders." An independent panel of judges, comprised of Sandie Breese, director, Provider Services, Asia Pacific, ISG; Karen Holland, board director and advisor; Angela Jones, general manager, Technology, Strategy and Governance, Australian Retirement Trust, and Vinika Yadav, global HR operations head, Hitachi Rail, evaluated the nominations and selected the following winners: * Rising Star: for demonstrating exceptional and continuous growth, with increasing levels of leadership, responsibility and sphere of impact. Bronze Winner: Maithili Misal, associate architect, ITC Infotech India Silver Winner: Swathi Subhash, manager, regional bid management, MENA, KaarTech Gold Winner: Deepthi Sudharsan, AI engineer, RiskSpan * Women's Advocate: for playing an active role guiding women to succeed in the digital world. Bronze Winner: Sisi Wan, senior director, analytics, APAC, TP Silver Winner: Jayapriya Jagannathan, NFT COE lead, Cognizant Technology Solutions Gold Winner: Heather Langton, chief people officer, Spark New Zealand * Digital Innovator: for making a significant impact on an organization, business or client through creative use of digital solutions. Bronze Winner: Sarah Noelle Jacob Rebueno, chief of staff, APAC - Malaysia & Thailand, TP Silver Winner: Mary Martin Melcy Kruz, industry principal, HCLTech Gold Winner: Shyamala Chandrasekar, chief product officer, Autonomous Banking, HCLTech * Rock Star Leader: for leading a major transformation with significant business impact and demonstrating exceptional leadership skills. Bronze Winner: Brooke Newman, executive general manager, Procurement, Partnering & Real Estate, Suncorp Silver Winner: Padmashree Shagrithaya, executive vice president & MD - Insights & Data Global Business Line, Capgemini Gold Winner: Sandhya Arun, chief technology officer, Wipro * AI Champion: for driving the strategic use of AI as a catalyst to dramatically transform how a company or organization works, how a product or service performs, or how people live or work. Bronze Winner: Mani Prasanna Tallapragada, senior director, DXC Technology Silver Winner: Anuradha Balasubramaniam, senior vice president and head, Agentic Operations, Genpact Gold Winner: Aarti Kapur, co-founder and managing partner, Hamsa AI Labs Meenu Bagla, chief marketing officer, Microland Limited, was chosen by the judges as the Digital Titan of the Year for Asia Pacific from among all regional nominees, recognizing her as the most outstanding woman in digital for 2026. The ISG Women in Digital Awards program, launched in the Americas in 2022, was expanded in 2023 to the Europe, Middle East and Africa (EMEA) and Asia Pacific regions, including India. In 2026, the global program had more than 700 finalists, who are listed in the online ISG Women in Digital eBook. Winners for the Americas were announced in a live, virtual, regional awards ceremony on September 10. Winners for EMEA will be announced on September 24. The ISG Women in Digital Awards are part of the ISG Women in Digital program, established in 2018 to provide a platform to exchange practical advice and innovative ideas on advocacy and advancement in the workplace. The community hosts a LinkedIn page, a LinkedIn Live video series and regular events for ISG employees and the greater IT and business services industry. For more information about the ISG Women in Digital Awards, visit the program website or contact ISG. About ISG ISG (Nasdaq: III) is a global AI-centered technology research and advisory firm. A trusted partner to more than 900 clients, including 75 of the world's top 100 enterprises, ISG is a long-time leader in technology and business services that is now at the forefront of leveraging AI to help organizations achieve operational excellence and faster growth. The firm, founded in 2006, is known for its proprietary market data and research, in-depth knowledge and governance of provider ecosystems, and the expertise of its 1,500 professionals worldwide working together to help clients maximize the value of their technology investments. View source version on businesswire.com: https://www.businesswire.com/news/home/20260917360352/en/