MyNetFone buys PennyTel, iVoiSys assets

MyNetFone has won court approval to take over the customer bases of two Sydney-based voice-over-IP resellers which recently went into liquidation amid allegations of fraud.

PennyTel and iVoisys both entered court-appointed liquidation last week, in part due to questionable payments made by their founder Amadu Yahaya from another of his VoIP companies, Hi-Tech Telecom.

MyNetFone negotiated with the liquidators of PennyTel and iVoiSys to take over the assets of both companies, which equates to approximately 200,000 customers.

The company declined to comment on the value of the deal.

MyNetFone will continue to operate customers' mobile, broadband and VoIP services while a service review is undertaken.

The 25 PennyTel and iVoisys technical support and customer service staff, working out of the same North Ryde office, will remain employed and servicing customers while the review is conducted over the following weeks.

"Nothing changes today," a MyNetFone spokesperson said. "Had we not agreed to step in and purchase, PennyTel would have been switched off."

MyNetFone was also recently in the running to take over the assets of liquidated Telstra mobile virtual network operator ispONE. It was the highest bidder for the assets with an offer of $3 million but lost out to successful bidder Conec2’s offer of $1.7 million.