Eftel acquires Platform Networks

Eftel acquires Platform Networks

ISP flags more acquisitions on the cards

Internet and telecommunications provider, Eftel (ASX:EFT), has acquired wholesale telecommunications service provider, Platform Networks, for an undisclosed sum.

In a statement, Eftel CEO, Scott Stavretis, said Platform’s business had a current run rate of more than $6 million in annual revenue.

“Combining this business with the strong supply relationships Eftel has procured will ensure we can add positive EBITDA straight to the bottom line,” he said.

Adding the Platform business would double its wholesale unit, Stavretis told ARN.

"Wholesale is a big part of what we plan to continue to do in the future. As we come into an NBN world, you need scale and that will come from our wholesale partners and retail customer base," he said.

It plans retain all Platform Networks nine full-time employees adding to its 80 staff locally.

It will also keep the Platform Networks business in its current form and plans to release new products including mobile telephony and 3G mobile broadband.

“Platform also brings a range of datacentre services to Eftel that will enable us to provide our corporate customers with a range of solutions in the rapidly growing cloud-based hosting market,” he said.

Stavretis hinted it was on the hunt for further acquisitions and tipped the next will come from within the retail space due to the amount of opportunities available in the market.

“We’re talking to other parties at the moment, acquisition is big part of what we want to do,” he said.

Last month, Eftel joined National Broadband Network mainland trials along with 14 other ISPs including Exetel, Internode, Telstra and TransACT. Dodo has become the telco’s first wholesale client as part of the trial.

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Tags broadbandplatform networksTelecommunicationseftelNational Broadband Network (NBN)

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