Telstra boosts cloud division with AU$60 million deal

Telstra boosts cloud division with AU$60 million deal

Australian carrier Telstra has acquired Melbourne-based cloud company O2 Networks in a deal worth AU$60 million ($52.8 million).

The deal is the latest in a series of acquisitions adding to Telstra’s Network Applications and Services (NAS) portfolio, which provides customers with managed network and security services as well as cloud and communications services.

Telstra’s NAS executive director Michelle Bendschneider said the acquisition would contribute to Telstra’s strategy of expanding its network services and boost its consultancy offerings.

“As our customers shift towards cloud-based environments, they increasingly require capabilities to securely integrate networks, data centres and cloud-based applications,” Bendschneider said. “O2 significantly enhances this capability within Telstra’s NAS portfolio and this acquisition is consistent with our strategy of providing advanced network-based services that are highly valued by our customers.”

The acquisition is now complete and will not be subject to regulatory approval.

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