Australian incumbent Telstra has snapped up Melbourne-based O2 Networks, a provider of network and security consulting as well as integration services for local businesses.
O2 Networks is not linked to Telefonica’s European assets, which also operate…
Australian incumbent Telstra has snapped up Melbourne-based O2 Networks, a provider of network and security consulting as well as integration services for local businesses.
O2 Networks is not linked to Telefonica’s European assets, which also operate under the O2 brand.
Telstra did not disclose the value of the acquisition, but national newspaper The Australian estimated the deal to be around A$60m (US$53m).
Telstra’s Network Applications and Services (NAS) executive director Michelle Bendschneider said in a statement that the acquisition is “consistent” with its strategy to provide advanced network-based services.
The transaction, which has completed, was not subject to regulatory approval, Telstra concluded.
The incumbent has been busy trimming its asset portfolio of late. Last week, it agreed to shed a 70% stake in its directories business Senses to US private equity firm Platinum Equity for A$454m (US$411m), leaving it with the remaining 30%.
In December, Telstra said it would sell its Hong Kong mobile operator CSL back to the owner of smaller rival HKT for A$2bn (US$1.85bn).
