Feeds

M2 Telecoms buys some Time

Hungrry for more acquisitions

  • alert
  • submit to reddit

Maximizing your infrastructure through virtualization

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. ®

Top three mobile application threats

More from The Register

next story
BBC goes offline in MASSIVE COCKUP: Stephen Fry partly muzzled
Auntie tight-lipped as major outage rolls on
iPad? More like iFAD: We reveal why Apple fell into IBM's arms
But never fear fanbois, you're still lapping up iPhones, Macs
Nadella: Apps must run on ALL WINDOWS – PCs, slabs and mobes
Phone egg, meet desktop chicken - your mother
White? Male? You work in tech? Let us guess ... Twitter? We KNEW it!
Grim diversity numbers dumped alongside Facebook earnings
Microsoft: We're making ONE TRUE WINDOWS to rule us all
Enterprise, Windows still power firm's shaky money-maker
HP, Microsoft prove it again: Big Business doesn't create jobs
SMEs get lip service - what they need is dinner at the Club
ITC: Seagate and LSI can infringe Realtek patents because Realtek isn't in the US
Land of the (get off scot) free, when it's a foreign owner
Dude, you're getting a Dell – with BITCOIN: IT giant slurps cryptocash
1. Buy PC with Bitcoin. 2. Mine more coins. 3. Goto step 1
There's NOTHING on TV in Europe – American video DOMINATES
Even France's mega subsidies don't stop US content onslaught
prev story

Whitepapers

Top three mobile application threats
Prevent sensitive data leakage over insecure channels or stolen mobile devices.
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.
Top 8 considerations to enable and simplify mobility
In this whitepaper learn how to successfully add mobile capabilities simply and cost effectively.
Application security programs and practises
Follow a few strategies and your organization can gain the full benefits of open source and the cloud without compromising the security of your applications.
The Essential Guide to IT Transformation
ServiceNow discusses three IT transformations that can help CIO's automate IT services to transform IT and the enterprise.