ASX-listed multimedia provider Destra Corporation has acquired ISP Veritel’s DSL customers through its subsidiary Techex Communications.
Service provider Techex has bought Veritel Australia’s 350 business DSL customers in a bid to strengthen communications service provider activity, a statement released by Destra said.
“The Veritel purchase was made using operating cashflow and will bring another $500,000 in revenue to Destra Corporation, adding immediate profitability,” the company said.
Veritel’s 350 business broadband customers offered up-sell opportunities for Destra’s other business offerings, including shared hosting for SMBs, high-end web hosting services and domain registration services, Destra said.
Chris Collinge, managing director at Techex, said the service provider expected to make “a number” of “similar” acquisitions in coming months.
Ivan Hurwitz, managing director at Veritel, said Veritel was concentrating on wireless services.
“Our DSL customers would benefit from the services offered by a company which has successfully been providing and supporting the broadband needs of business customers,” Hurwitz said.
Destra has said it wants to be a “one-stop shop” for business communications, a strategy that had prompted the buyout of Techex Communications in October.
Techex delivered broadband, wireless, voice, managed services, VPNs and related products to businesses, education and government departments across Australia.
Destra divisions would be rebranded next year in line with new market initiatives, the company said.