Eftel buys small Sydney ISP

By

Continues acquisition strategy.

Internet service provider EFTel has acquired Sydney-based small business ISP Visage Telecom.

Eftel buys small Sydney ISP

Melbourne-based Eftel will pay $225,000 in cash instalments for the provider, and a further $225,000 in shares, issued at 17.5 cents each.

Visage was owned by interests associated with John Beville, a Sydney former rich-lister and property developer whose fortunes took a turn for the worse last year as banks, who he owed $700 million to, seized his main asset, the Top Ryde Shopping Centre.

Eftel chief Scott Stavretis said he expected the deal to be complete in a month.

Established in 2000, Eftel is thought to have around 120,000 active customer accounts currently. It merged in 2002 with Perth network operator Datafast and again last year with ClubTelco.

The company has continued a strategy of growth through acquisition, buying sub-wholesaler Platform Networks last year, and West Australian Networks in June this year.

Got a news tip for our journalists? Share it with us anonymously here.
Copyright © iTnews.com.au . All rights reserved.
Tags:

Most Read Articles

Telstra to axe 550 roles including in enterprise business

Telstra to axe 550 roles including in enterprise business

Vocus receives government nod for TPG Telecom deal

Vocus receives government nod for TPG Telecom deal

NBN Co to "rationalise" some access technologies entirely

NBN Co to "rationalise" some access technologies entirely

Trouble anticipated as NBN Co's new high speeds come online

Trouble anticipated as NBN Co's new high speeds come online

Log In

  |  Forgot your password?