Vodafone NZ acquires Worldxchange
Vodafone New Zealand (NZ) has acquired Auckland-based communications company Worldxchange (WXC) for an undisclosed sum.
WXC delivers internet telephony services to enterprise customers – including the Reserve Bank, the Earthquake Commission and insurance firm NZI – and also offers VoIP services to the residential market.
The Kiwi telco has offered employment to all 65 of WXC’s staff, and will run the company as a subsidiary with a board comprising representatives of both firms.
“Everyone is coming across – that was one of the important things – we’re a standalone business,” said Glenn Johnstone, chief executive at WCX who will continue in his role.
“I have a group of fantastic engineers but we’re not very good at marketing and sales. Overnight we have access to Vodafone’s sales team.”
WXC was previously owned by its management, including co-founder and CTO Paul Clarkin, who held a 70.6% stake.