Feeds

M2 acquires Clear Telecoms

Adds 20k customers

Security for virtualized datacentres

M2 Telecommunications yesterday announced to the Australian Stock Exchange that it had acquired Clear Telecoms.

The acqusition covers customer contracts, systems, brands and intellectual property. According to M2 Telecom’s announcement, Clear Telecoms had 20,000 SME customers Australia-wide and generated $70 million in annual revenue.

M2 is to pay $24.5 million for the acquisition, which will take its own revenue past $500 million annually.

Clear Telecoms was one of a number of service providers named in a Four Corners investigative report in late 2010 (program transcript here), in which the program accused many small telcos of tying customers into expensive bundled contracts using the lure of “free” equipment such as plasma televisions. The report claimed the alleged scams were backed by finance contracts managed by a division of Macquarie Bank (which is not related to Macquarie Telecom).

In a Federal Court case launched in 2008, the Australian Competition and Consumer (ACCC) included Clear Telecoms as a respondent in proceedings over hidden contracts and misleading conduct. The case is not expected to reach court until 2012. ®

Security for virtualized datacentres

More from The Register

next story
Phones 4u slips into administration after EE cuts ties with Brit mobe retailer
More than 5,500 jobs could be axed if rescue mission fails
Apple CEO Tim Cook: TV is TERRIBLE and stuck in the 1970s
The iKing thinks telly is far too fiddly and ugly – basically, iTunes
Huawei ditches new Windows Phone mobe plans, blames poor sales
Giganto mobe firm slams door shut on Microsoft. OH DEAR
Phones 4u website DIES as wounded mobe retailer struggles to stay above water
Founder blames 'ruthless network partners' for implosion
Apple Pay is a tidy payday for Apple with 0.15% cut, sources say
Cupertino slurps 15 cents from every $100 purchase
Forget silly privacy worries - help biometrics firms make MILLIONS
Beancounter reckons dabs-scanning tech is the next big moneypit
Microsoft's Office Delve wants work to be more like being on Facebook
Office Graph, social features for Office 365 going public
prev story

Whitepapers

Secure remote control for conventional and virtual desktops
Balancing user privacy and privileged access, in accordance with compliance frameworks and legislation. Evaluating any potential remote control choice.
Saudi Petroleum chooses Tegile storage solution
A storage solution that addresses company growth and performance for business-critical applications of caseware archive and search along with other key operational systems.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.
Providing a secure and efficient Helpdesk
A single remote control platform for user support is be key to providing an efficient helpdesk. Retain full control over the way in which screen and keystroke data is transmitted.