Eftel buys Engin for $9.1m

 

Seven offloads last telco play.

Eftel has bought VoIP provider Engin from parent company Seven Group for $9.1 million, adding to a growing arsenal of service providers and broadband companies owned by the ISP.

Eftel will gain 85,000 consumer, business and wholesale VoIP services as well as intellectual property from the acquisition, it confirmed in a statement to the ASX.

Chief executive Scott Stavretis said the Engin buy was part of the company's ongoing acquisition strategy, which has led it to purchase several small ISPs as well as wholesaler Platform Networks over the past 12 months.

"As the National Broadband Network rolls out across the country, VoIP will be the solution used to deliver traditional fixed line voice calls," he said in a statement.

"The VoIP scale and experience acquired under this transaction will greatly assist the Eftel business as the industry undergoes this technology change."

Engin had itself become an NBN service provider, unveiling fixed line broadband plans for the first time in March using Nextgen's wholesale product.

The move comes just a year after Seven Group completed its own buy-out of Engin, a process which began in 2006.

The TV network operator had initially purchased a 33 percent stake in the company for $26 million as part of a move into broadband services.

However, Seven has progressively moved out of the area in the past year, selling its mobile broadband subsidiary vividwireless to Optus for $230 million.

Copyright © iTnews.com.au . All rights reserved.


Eftel buys Engin for $9.1m
 
 
 
Top Stories
Beyond ACORN: Cracking the infosec skills nut
[Blog post] Could the Government's cybercrime focus be a catalyst for change?
 
The iTnews Benchmark Awards
Meet the best of the best.
 
Telstra hands over copper, HFC in new $11bn NBN deal
Value of 2011 deal remains intact.
 
 
Sign up to receive iTnews email bulletins
   FOLLOW US...
Latest Comments
Polls
Who do you trust most to protect your private data?







   |   View results
Your bank
  38%
 
Your insurance company
  4%
 
A technology company (Google, Facebook et al)
  8%
 
Your telco, ISP or utility
  8%
 
A retailer (Coles, Woolworths et al)
  3%
 
A Federal Government agency (ATO, Centrelink etc)
  19%
 
An Australian law enforcement agency (AFP, ASIO et al)
  14%
 
A State Government agency (Health dept, etc)
  6%
TOTAL VOTES: 1886

Vote
Do you support the abolition of the Office of the Information Commissioner?