Melbourne-based M2 Telecommunications Group has acquired the assets of Bell Networks Voice & Data, a move that ramps up the telco provider’s SMB market focus.
M2 chairman, Craig Farrow, said Bell Network’s customer base complements the company's SMB focus. The company provides fixed-line, mobile and data telecommunications services.
“We look forward to the opportunity to offer existing Bell Networks customers the M2 suite of products, including ADSL2+, 3G mobile broadband and bundled offers," Farrow said in a statement.
The base consideration for the assets is $4.015 million (less certain adjustments), payable in cash, comprising of an upfront and deferred payment, according to the company.
The assets are expected to contribute about $13 million in annual recurring customer revenues. The transaction is expected to completed on August 1.
The acquisition of Bell Networks follows the purchase of Clever Communications, another business servicing the SMB market.