Powerlan's apparent mission to set new Australian acquisition records appears well on track after the company announced on Friday a 51 per cent shareholding in Clarity International.
The company now views itself as an information technology and telecommunications services provider, given the addition of Clarity's telecommunications-based Operational Support System products.
Terms of the deal were not disclosed but Powerlan revealed it will invest equity funds in Clarity to assist in financing its growth.
Powerlan managing director Theo Baker believes telecommunications is one of the highest growth sectors and plans to explore business opportunities throughout the Asia-Pacific region.
"We expect Clarity to achieve very strong growth in profitability in the short term," he said in a company statement.
The news follows Baker's recent prediction the company is far from winding up its acquisition trail (ARN, October 13, page 10).