Telecom services provider M2 Telecommunications has announced it will buy local rival Clear Telecoms for A$24.5m (US$24.6m).
The company explained that the assets purchased include customer contracts, operating systems, brands and other related…
Telecom services provider M2 Telecommunications has announced it will buy local rival Clear Telecoms for A$24.5m (US$24.6m).
The company explained that the assets purchased include customer contracts, operating systems, brands and other related intellectual property.
The acquisition of Clear, which generates annual revenues of about A$70m (US$70.4m), will allow M2’s revenues to exceed A$500m (US$503m) per year and to lift its EBIDTA in the financial year 2011/2012 by A$8m (US$8.04m).
It also represents M2’s largest transaction since it bought the telecoms assets of Commander Communications in June 2009.