EFTel buys Instant Communication

By

ASX-listed EFTel has acquired Queensland-based ISP Instant Communication, its third in a month.

EFTel buys Instant Communication
ASX-listed EFTel has acquired Queensland-based ISP Instant Communication, its third buy in a month.

The acquistion will add around 3,000 active dial-up and broadband accounts, predominately in the Queensland region, to EFTel's books.

Simon Ehrenfeld EFTel CEO said the acquisition would tie in well with the company's buy-out of aaNet in July.

“Both are Brisbane based [service providers] and the rapid merger of cost bases there is already well under way,” said Ehrenfeld in an ASX statement.

The two acquistions, plus a third buy this month - WA-based ISP ACE Onlone - will cost the company $2.47 million, EFTel said. The figure will be primarily funded by a Westpac acquisition facility announced earlier in the year.

Ehrenfeld said the service provider is also looking at other acquisition opportunities throughout Australia.

“EFTel believes consolidation of the Australian ISP industry will continue because this is a business in which scale brings greater profitability,” he said.
Got a news tip for our journalists? Share it with us anonymously here.
Tags:

Most Read Articles

Telstra launches satellite messaging service

Telstra launches satellite messaging service

Woolworths' CSO is Optus-bound

Woolworths' CSO is Optus-bound

Telstra server migration cut access to emergency number

Telstra server migration cut access to emergency number

Telstra addresses external antenna claims by Vodafone

Telstra addresses external antenna claims by Vodafone

Log In

  |  Forgot your password?