IntraPower buys virtual network operator for $2.3m
- 19 February, 2008 12:39
ASX listed communications provider, IntraPower (ASX: IPX), has strengthened its Victorian footprint by acquiring managed network services company, IPsX for $2.3 million.
IPsX is a virtual network operator providing wide area network, security and management solutions for businesses throughout Australia and the broader Asia-Pacific region. The company's three staff members will be retained as part of the acquisition.
IntraPower CEO, Greg Kennish, said IPsX's Ed Allan and Paul Chakour would be valuable additions to IntraPower's Victorian management team.
"IPsX has very strong sales management and customer advice capabilities. We also have mutually exclusive customer bases, and their strength in retail is not a vertical we've had before," Kennish said.
IPsX has 65 customers in market verticals including finance, government, recruitment, logistics, healthcare, IT and telecommunications, manufacturing, retail and media.
IntraPower was established in Brisbane in 1998. Kennish said it would continue to look for expansion opportunities and acquisitions.
Expanding its geographical spread to Perth, the Gold Coast and New Zealand were priorities, he said.
IntraPower will also look to acquire companies with IP applications skills that augment its product sets, and those with user bases in the SME space.