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UPDATED: Vocus acquires PerthIX for $6.275 million

UPDATED: Vocus acquires PerthIX for $6.275 million

PerthIX's Adam Gardner will continue to lead the Perth team, which will be integrated into the Vocus technical and operational teams.

ASX-listed wholesale telecommunications provider, Vocus Communications, has acquired Perth datacentre company, PerthIX, for more than $6.275 million in cash.

The payment also comprises an additional performance earn out of up to $725,000, if the business exceeds its 2012 financial year forecast.

The acquisition is expected to have a negligible impact on 2011 financial year earnings, but is expected to contribute $1.5 million in earnings before tax for the 2012 financial year.

The acquisition will be funded through existing cash reserves.

In a statement, Vocus CEO, James Spenceley, said the acquisition was a strategic move to consolidate its datacentre business and establish a national footprint. It already has datacentres in Sydney and Melbourne.

PerthIX general manager, Adam Gardner, will continue to lead the Perth team, which will be integrated into the Vocus technical and operational teams.

The Perth facility was recently upgraded to 536sqm, and maintains more than 86 customers.

In February, Vocus revealed it had almost doubled its revenue in the first half of 2011 financial year, reaching $13.9 million, up 92 per cent. Earnings before tax totalled $6.4 million, up 35 per cent on the previous year.

Vocus recently revealed its new datacentre in Alexandria, Sydney, which it inherited through its $5.9 million acquisition of E3 Network’s datacentre business.


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Tags datacentreVocus CommunicationsPerthIXE3 Network

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