Visionstream parent Ventia cleared to buy Broadspectrum

Visionstream parent Ventia cleared to buy Broadspectrum

ACCC greenlights infrastructure services merger

Credit: ACCC

Ventia has been cleared by Australia’s competition watchdog to acquire fellow infrastructure services manager Broadspectrum.

The parent company of telecommunications and IT services firm Visionstream has been cleared by the Australian Competition and Consumer Commission (ACCC) to merge with Sydney-based Broadspectrum.

The watchdog said the two generally offer differentiated services with minimal overlap in a number of industries.

“We looked at this proposed acquisition closely to ensure strong competition remains in the supply of infrastructure services to industries with a direct impact on consumer prices,” ACCC Commissioner Stephen Ridgeway said.

“We contacted many customers of infrastructure services, and received consistent feedback that there is sufficient competition from alternative suppliers and that companies will continue to have a variety of options when contracting for infrastructure services.”

The deal will see Ventia take over Broadspectrum from its Spanish parent organisation Ferrovial.

Ventia’s subsidiary Visionstream offers contractors for companies including NBN Co, Optus and Chorus and also offers services including network construction, design and engineering and operations and maintenance.

The acquisition comes after Visionstream’s battle with the Fair Work Commission over job cuts of 49 members of staff.

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