New Zealand telco Spark has sold its leasing business Telecom Rentals Limited (TRL) to Australian financial services firm FlexiGroup for NZ$106m (US$80.1m).
The operator expects to complete the sale of TRL, which leases ICT and telecoms equipment, on 30…
New Zealand telco Spark has sold its leasing business Telecom Rentals Limited (TRL) to Australian financial services firm FlexiGroup for NZ$106m (US$80.1m).
The operator expects to complete the sale of TRL, which leases ICT and telecoms equipment, on 30 April to strengthen its focus on digital services.
TRL was established in 2006 and earns roughly NZ$5m (US$3.8m) in EBITDA per annum.
FlexiGroup CEO Tarek Robbiati said: “Bringing TRL into the FlexiGroup portfolio will consolidate our distribution footprint in NZ and provides significant scale for our existing high-growth New Zealand business.
“With approximately 1,350 customers across education, data centres, digital business and government, this acquisition will see us become the largest technology leasing provider in New Zealand.”
