Australia’s newest IT services powerhouse opens for business on the ASX

Australia’s newest IT services powerhouse opens for business on the ASX

The new group is worth an estimated $28 million

CommsChoice Group (ASX:CCG), the entity formed from the merger of five different telco resellers, has emerged as one of Australia’s newest publicly-listed IT services players in the local market.  

The new group, made up of its namesake, CommsChoice, along with Telegate, Telaustralia, Oracle Telecom and Woffle, is worth an estimated $28 million.  

It was admitted to the official list of the Australian Securities Exchange (ASX) on 18 December, with its official quotation commencing on 21 December.  

20 December had long been slated as the group’s official date for listing on the ASX, following a $7.5 million initial public offering (IPO).  

As the company began trading publicly on the ASX, it released a statement to shareholders, referring to itself a “comprehensive ICT managed services business with a proprietary Adaptive Connectivity-as-a Service (ACaaS) platform that delivers optimised solutions”.  

The prospectus for the company’s IPO outlined plans for the new publicly-listed corporate entity to acquire the individual companies set to comprise the new group, a move that effectively saw the five resellers merge into one business.  

The largest single company making up the new entity is CommsChoice itself, which has offices in Sydney, Melbourne, Singapore and the Philippines. It was known enterprise-focused telco and IT services, specialising in managed data and voice solutions, and unified communications service.  

The other entities making up the merger – Woffle, Telegate, Telaustralia and Oracle Telecom – all provided telco services, including Voice over IP systems, along with other voice, data, phone and cloud hosting services.  

As a combined entity, the group claims to have a global operational advantage with 23 virtual service integration points (VSIPs) located in 16 countries with 24/7 support through its Engineering Centre of Excellence, located in the Philippines, and a Client Experience Centre in Sydney.  

The CEO of the new entity is Ben Gilbert, while John Mackay is an independent executive chairman and Peter McGrath an independent non-executive director.

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