Australia’s MNF to buy Conference Call International
MNF, the Australian operator that last year bought the international wholesale business of the New Zealand’s Spark Communications, is to buy a conference call and collaboration company.
MNF – which is the parent company of VoIP providers MyNetFone, Connexus, CallStream, PennyTel and The Buzz as well as VoIP wholesaler Symbio Networks – will add Conference Call International (CCI)to its portfolio for $A18 million ($13.75 million)
“The acquisition of CCI provides MNF a significant entry into the audio conferencing and collaboration market in Australia and the region. These applications have the potential for consistent long term growth and innovation potential,” said MNF chief executive Rene Sugo. MNF has already raised $A18.5 million from institutional investors to fund the deal.
CCI operates under the Express Virtual Meetings, Eureka Conferencing and Ozlink brands. Sugo said: “These applications are an excellent fit with the current MNF business, enterprise and government sub-segment, as well as a high value synergy with the group’s domestic and global network assets.”
The acquisition is expected to complete at the end of next week. The deal will bring an additional 5,000 business, government and enterprise customers into MNF.
CCI operates from headquarters outside of Melbourne with a team of 23 staff. The business is on track to earn $A3.5 million EBITDA in the 2017 financial year, a 17% increase on the previous year.
In 2016 MNF completed purchase of the former Telecom New Zealand International (TNZI) from Spark Communications for $A22 million. TNZI sells voice, data, mobile, and digital services in six counties, and in 2015 was reported carrying more than 2.8 billion voice minutes.
In a separate announcement, MNF said it will become one of the three suppliers of voice services to the state government of the Australian province of Victoria. MNF already supplies services to the state governments of New South Wales and Tasmania.