We are pleased to announce that acquisition of Telarus Pty Ltd has been completed for a total consideration of $7.615m, effective 16 January 2017.
Commenting on the acquisition, Managing Director Michael Omeros said, “The acquisition of Telarus is very exciting for the Over the Wire group. It expedites our existing geographic expansion progress into Victoria and allows us to introduce some complimentary new offerings. We look forward to a positive 2017 as we continue to execute our strategy for growth.”
In addition to the regional expansion and synergies expected on integration, Telarus has a high quality team that will integrate well with the Over the Wire culture, and we’re excited to be working alongside them.
Telarus delivers business grade solutions to the Australian and New Zealand SME and Enterprise markets. Employing 25 staff in Melbourne and servicing over 300 business customers, Telarus delivers managed network, managed security and private cloud solutions. Telarus has a strong customer service focus with clients such as Cue Clothing Group, Zagame Automotive Group, Foodworks, and Swatch Group. For more information visit www.telarus.com.au.
Additional information on the agreement can be found in Over the Wire’s announcement to the ASX.