Telco industry veteran Vaughan Bowen has joined Adelaide-based broadband start-up Uniti Wireless as its executive director.
Uniti was founded in Adelaide in 2014 and provides an "alternative option to the national broadband network" (NBN). In 2016, Uniti secured $1.1 million investment, which helped to accelerate its growth in Adelaide and expand into the Melbourne scene.
Since then, the company has grown to more than 50 staff and has plans to expand into Perth, Brisbane and Sydney this year. In February, it began trading on the Australian Securities Exchange, raising $13 million under its prospectus, and completed the acquisition of FuzeNet, which formed a pivotal part of its transformation.
Bowen will be primarily focused on Uniti’s strategic expansion and will work alongside Uniti CEO Michael Simmons to build up its merger and acquisition pipeline across new products and markets.
“I’ve had the good fortune to be a part of a growing business in a similar manner previously, with valuable learnings of what to do and what not to do,” Bowen said.
“I genuinely believe the potential exists for the company to materially grow earnings, free cash flow and income diversity, which will in turn be reflected in strong and growing shareholder returns, and the elevation of Uniti to a sizeable, highly profitable company over the medium term.”
Simmons said he has discussed the Uniti business plan with Bowen and developed a list of opportunities in the process.
“Vaughan and I have spent more than a decade working together and I know that he will bring a tremendous work ethic, deep relationships across the sector, and a single minded focus on value accretion,” Simmons said.
Bowen who was the founder of telecommunications company M2 Group and played an instrumental role in taking it from its start-up stage to building a business that was valued at more than $2 billion with brands such as Dodo, iPrimus and Commander under its belt.
It was eventually sold to Vocus Group in 2016, where Bowen served as executive director and then chairman up until last year.
Bowen also founded and will continue to be the chairman of the charitable entity Telco Together Foundation.