Over the Wire Acquisition of Australian and New Zealand Voice Businesses of J2 Global Inc Completed

Over the Wire Holdings Limited (ASX:OTW) (“Over the Wire” or “Company”) is pleased to announce that it has completed the acquisition of the Australian and New Zealand voice businesses of J2 Global Inc. (NASDAQ:JCOM) (“Aust & NZ Voice Business”), through the acquisition of all the shares in J2 Australia Cloud Connect Pty Ltd and Zintel Communications Limited (together, the “Acquired Business”) for a total consideration of $36M.

The acquisition was funded through Over the Wire’s cash reserves and a debt facility with Westpac.

The Acquired Business is expected to contribute approximately $19M revenue and $6M EBITDA to Over the Wire on an annualised basis.

Strategic Rationale

  • Acquisition of a leading platform provider of inbound telecommunication services in Australia and New Zealand, delivering proven solutions to the corporate and small / medium enterprise (SME) market.
  • Introduces new solution capability to Over the Wire in the areas of inbound telephony services including call routing intelligence, data intelligence, call management and analytics reporting, via a proprietary technology platform.
  • Customer base offers cross sell opportunities, particularly in outbound voice and Hosted Telephony services.
  • Highly capable team led by experienced management that will be able to deliver a whole of business voice offering to the Australian and New Zealand SME market with complimentary capabilities, when combined with Over the Wire subsidiary Faktortel.
  • Delivers platform capability to Over the Wire that further complements our growth objectives within the Cloud Voice, Mobility and Communications Platform as a Service (CPaaS) market.
  • EBITDA and EPS accretive transaction.

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