Feeds

M2 Telecoms buys some Time

Hungrry for more acquisitions

  • alert
  • submit to reddit

Secure remote control for conventional and virtual desktops

M2 Telecommunications continues its acquisition drive, snapping up Time Telecom via subsidiary Southern Cross Telco for $AU18.5 million.

The Time Group has around 30,000 small and medium sized business and residential customers Australia-wide.

The complex transaction involves paying the cash consideration over three tranches, the first payable upon completion, with the remaining tranches payable six and nine months after completion, subject to the achievement of certain minimum performance milestones.

M2 has an established relationship with Time as a wholesale customer. M2's CEO, Geoff Horth said, "the transaction has appeal to M2 for a number of reasons, most notably that the assets will contribute to earnings for the 2013 financial year and were acquired for less than three times annual EBITDA, consistent with the purchase price of other assets of this nature.”

Last year M2 acquired the assets of business focussed provider Clear Telecoms and Austar United Mobility.

The Clear assets acquired by M2 for $AU24.5 million included all customer contracts, operating systems, brands and all other related intellectual property in addition to 20,000 SME customers.

The Austar acquisition included customers records of 15,000 Austar customers in a $AU2 million deal. ®

5 things you didn’t know about cloud backup

More from The Register

next story
6 Obvious Reasons Why Facebook Will Ban This Article (Thank God)
Clampdown on clickbait ... and El Reg is OK with this
Mozilla's 'Tiles' ads debut in new Firefox nightlies
You can try turning them off and on again
No, thank you. I will not code for the Caliphate
Some assignments, even the Bongster decline must
Kaspersky backpedals on 'done nothing wrong, nothing to fear' blather
Founder (and internet passport fan) now says privacy is precious
Banking apps: Handy, can grab all your money... and RIDDLED with coding flaws
Yep, that one place you'd hoped you wouldn't find 'em
TROLL SLAYER Google grabs $1.3 MEEELLION in patent counter-suit
Chocolate Factory hits back at firm for suing customers
Primetime precrime? Minority Report TV series 'being developed'
I have to know. I have to find out what happened to my life
Ex-IBM CEO John Akers dies at 79
An era disrupted by the advent of the PC
prev story

Whitepapers

Gartner critical capabilities for enterprise endpoint backup
Learn why inSync received the highest overall rating from Druva and is the top choice for the mobile workforce.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Rethinking backup and recovery in the modern data center
Combining intelligence, operational analytics, and automation to enable efficient, data-driven IT organizations using the HP ABR approach.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
Next gen security for virtualised datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.