IPscape founder and CEO, Simon Burke, told journalists at a press briefing this week that the company already had users in 20 countries.
"We are on a mission and that is not just about being a leader in Australia, it is global...Our three year plan has us expanding significantly into Asia and Europe...We have offices in Australia and the UK and we will have our Singapore office established by the end of the month...
"Over the next couple of months there will be more about the sort of clients we are signing up. Telstra Global [which is selling IPscape services into Asia] will sign their first deal before Christmas."
|
|
Neither the shareholding nor the investment were revealed at the time. However Telstra's annual report shows it to be 31.3 percent. The value of the investment was not disclosed but Telstra said that AVG had invested a total of $10m in IPscape, restaurant reservation service Dimmi (23.4 percent) and digital signage software company Mandoe (25 percent).
Burke said that Telstra's involvement would be key to the company's expansion plans. "For a business [like IPscape] that has gone from startup to a leadership position where the brand is relatively unknown, having the credibility of someone like Telstra being a shareholder and them having someone on our board, and with all the due diligence Telstra has gone through in evaluating us and looking at our technology, it is a significant uplift for us in all sorts of ways."
Telstra Global's main focus is into Asia. "They would like us to go into the US but I'm not sure we are ready for that yet, and I'm not sure Telstra is either," Burke said.
CONTINUED
|
You can read more stories on telecommunications in our newsletter ExchangeDaily, click here to sign up for a free trial... |
