UPDATED: Conec 2 buys ispONE

UPDATED: Conec 2 buys ispONE

Conec 2 picks up all the assets - skips the debt

Melbourne-based Conec 2 group has picked up ispONE, which collapsed spectacularly last month leaving Aldi Mobile and Kogan Mobile without a provider.

Conec 2 acquires all of ispONE's assets, including 29 employees and 61,000 customers. There will be no cutbacks and will include the iBOSS platform, the customers of ONEseniors, One Mobile and One Telecom.

The full terms of sale (including the price) remain confidential.

[updated] The administrator, Ferrier Hodgson, told ARN that the sale would not include ispONE's debts, which remain with ispONE in administration. More than 80 creditors have made claims against the company.

While the sale includes taking over the provision of services to Medion under the Aldi Mobile brand, the spokesperson didn't know if the deal included any rights to Kogan Mobile's services.

Ferrier Hodgson's Stewart McCallum said the sale had generated a significant amount of interest.

“We extended the expression of interest period to accommodate the large number of parties that came forward,” he said. “Many were credible buyers and the level of interest drove a competitive bidding process.”

Group Chief Executive of CONEC2, Cameron Adams, said the acquisition would help consolidate his company's in what has become a cut-throat telecommunications sector.

“We believe the ispONE team brings an extremely high standard of skills and expertise that we can work with and take to the next level. We are excited to have the opportunity to integrate the iBOSS platform, the people, and valued clients of both companies.”

The company was one of the largest wholesale mobile providers in Australia. It had been a customer of Telstra Wholesale for mobile products, as well as broadband and a "relatively small number of fixed line voice products."

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Tags TelstraFerrier HodgsonacquisitionsispONEtelcosKogan MobileAldi MobileConec 2Cameron AdamsStuart McCallum

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