Over the Wire Holdings Limited (ASX:OTW) is pleased to announce that it has entered into a binding agreement to acquire all of the shares in Telarus Pty Ltd. Completion of the acquisition is expected to take place on 16 January 2017 and is subject to a limited number of customary conditions precedent.
Established in 2002, Telarus delivers business grade telecommunications solutions to Australian and New Zealand SME and Enterprise customers. Telarus has experienced high levels of customer retention and is headquartered in the Melbourne CBD.
With FY16 revenue of $11.6m, FY16 EBITDA of $1.5m, 25 employees and more than 300 business customers, Telarus will accelerate Over the Wire’s geographic expansion into Victoria.
Additional information on Telarus and the agreement can be found in Over the Wire’s announcement to the ASX.