Australia’s My Net Fone to acquire Spark NZ wholesale arm
Australian hosted voice and data communications service provider My Net Fone has today revealed that it will acquire the global wholesale voice business of Spark New Zealand for NZ$22.4 million.
Formerly Telecom New Zealand, the operator is the dominant international wholesale voice carrier in the country, with operations in six countries and more than 220 wholesale voice customers.
My Net Fone will acquire Spark’s long-term provision of the bulk of international voice traffic to and from New Zealand, as well as its proprietary platforms and traffic management systems for NZ$22.4 million.
“The acquisition of TNZI and its international voice business is a huge step up for My Net Fone. This transforms My Net Fone into a significant voice player in the global market,” said Rene Sugo, CEO at My Net Fone.
“It would have taken the company many, many years and a far greater investment to build the team, capabilities, customer base and network reach that this great deal brings us.”
The Australian firm will fund the acquisition via a $25 million bank facility, and the deal is expected to complete at the end of the month.
The divestment falls in line with Sparks’ strategy to focus on its New Zealand operations, and a more digital future.