In just over a week, Internet infrastructure service provider VivaNET has signed up a million-dollar wholesale deal with Internet service provider MyAccess, and announced that Wayne Bos' new economy investment firm, Tomorrow, plans to purchase of a 53 per cent stake in the company.
VivaNET and MyAccess have inked a 12-month, $1 million deal that sees VivaNET provide infrastructure to the ISP to deliver Internet services under the MyAccess brand. MyAccess will on-sell these services to corporations and SME's (Small to medium enterprises).
VivaNET offers public dedicated wholesale Internet infrastructure services to over 90 wholesale customers (such as ISPs) and boasts a network covering 30 Australian cities.
"Our branded ISP product will allow MyAccess to brand its own identity on infrastructure and services provided by VivaNET," said VivaNET CEO Cardy Chung. "MyAccess can combine VivaNET's advanced network access products and services to provide its own branded content to end-user customers."
Late last month, Mid-East Minerals changed its name to Tomorrow Limited, and appointed former Sausage Software CEO Wayne Bos as director and CEO. Its first transaction was the option to acquire a shareholding of up to 53 per cent in VivaNET. The agreement includes the appointment of Wayne Bos and managing director Rod Lyle to the VivaNET board immediately, but the issue of options is still subject to shareholder approval and the necessary regulatory approval.
VivaNET shareholders will be asked to approve the transaction in November.