Hostech buys 5Star Telecom and Officelink+

Stuart Corner
Sunday, 29 November 2009 08:09

IT Industry - Deals

Hostech (ASX: HTC) is to acquire the business assets of 5Star Telecom Pty Ltd - a Sydney based reseller of mobile, fixed line, data and managed services to small business customers - and OfficeLink Plus Pty Ltd - national business offering managed private network services to business customers.

According to Hostech, both are profitable. Hostech will pay $930,000 in shares at $0.02 and $100,000 in cash for the assets of 5Star, formerly known as T4 Communications, and $750,000 in shares at $0.02 and $250,000 in cash for the assets of OfficeLink+.

The move comes just days after Hostech announced the abandonment of its plans to acquire Plant Communications, whch trades as Samsung Communications and which is the exclusive Australian distributor of Samsung business telephone systems. http://www.itwire.com/content/view/29604/127/

5Star founder Carlos Perez and Frank Bradicich and OfficeLink+ founder Paul McConnell will join the executive team of Hostech. Perez will become CEO and a director of Hostech and McConnell its CTO.

According to Hostech "Perez comes with an impressive track record in telecommunications having founded T3 Communications in January 2002 and then selling the company to Pacific Internet (Australia), in 2005. [He] has been successfully involved in eight telecommunication start up operations in eight different countries. He has also held senior finance roles at other Australian publicly listed companies. Frank Bradicich is equally well credentialed as a long established sales professional in the industry."

Perez was a commercial manager at Optus from 1994-1998 before joining One.Tel where he was CFO International and Mobile Network from 1998 until its collapse in 2001, He founded T3 Communications in 2002 an and 5tar was founded in April 2008.

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