Home Industry Deals Telstra acquires O2 Networks for $60 million

Telstra acquires O2 Networks for $60 million Featured

Telstra has pulled out its wallet to acquire Melbourne-based cloud company O2 Networks, in a deal worth an estimated $60 million.

O2 Networks, which says it boasts around 370 customers and 100 staff, designs and builds networks for a range of financial institutions across Australia.

The company's managing director Euan Prentice said O2 and Telstra enjoyed a long-standing relationship and the combination of O2 and Telstra was logical for both companies.

“We have a long history of working with Telstra and we know that O2 will be an excellent fit. We also look forward to enabling our people to broaden their career opportunities within Telstra,” Prentice said in a statement.

Telstra’s Network Applications and Services (NAS) Executive Director Michelle Bendschneider said the acquisition would contribute to Telstra’s strategy of expanding its network services.

“As our customers shift towards cloud-based environments, they increasingly require capabilities to securely integrate networks, data centres and cloud-based applications,” Bendschneider said.

“O2 significantly enhances this capability within Telstra’s NAS portfolio and this acquisition is consistent with our strategy of providing advanced network-based services that are highly valued by our customers.

“O2 have a reputation for deep-domain expertise and speed to market with emerging technologies including wireless network integration and next generation security threat detection and mitigation solutions. We value O2’s consulting-led approach to engaging with customers, ensuring the right solutions are developed rather than just focusing on the underlying technologies that are delivered.

“Following our recent acquisition of NSC Group, we continue to invest in capabilities that improve the efficiency of our customers’ businesses and enhance the way they serve their own customers,” Bendschneider said.

The deal, along with the NSC acquisition, is the latest in a series of purchases adding to Telstra’s NAS portfolio which should be a strong source of revenue for the company in the future.

Neither party would provide any details on the value of the deal, but sources close to the transaction valued it at around $60 million.

WEBINAR 7th May 11am - WOW 802.11

Learn how Ruckus Redefines High-Speed, High Capacity Wi-Fi with Industry’s First 802.11ac Wave 2 Access Point

THIS IS ONE NOT TO MISS SO REGISTER NOW

DON'T MISS OUT - REGISTER NOW!

FREE - SYDNEY & MELBOURNE BUSINESS INTELLIGENCE EVENTS

The Holy Grail of the Business Intelligence (BI) industry – pervasive deployments and widespread end-user adoption – has remained an illusive dream for years. Until now!

REGISTER & SECURE YOU PLACE / BRING A FRIEND

Melbourne - venue Captain Melville’s CBD 2:30 – 6:00pm, Tuesday 28th April

Sydney - venue Redoak CBD 2:30 – 6:00pm, Thursday 30th April

DON'T MISS OUT - MELBOURNE REGISTER NOW!

DON'T MISS OUT - SYDNEY REGISTER NOW!

FREE WHITEPAPER - RISKS OF MOVING DATABASES TO VMWARE

VMware changed the rules about the server resources required to keep a database responding

It's now more difficult for DBAs to see interaction between the database and server resources

This whitepaper highlights the key differences between performance management between physical and virtual servers, and maps out the five most common trouble spots when moving production databases to VMware

1. Innacurate metrics
2. Dynamic resource allocation
3. No control over Host Resources
4. Limited DBA visibility
5. Mutual ignorance

Don't move your database to VMware before learning about these potential risks, download this FREE Whitepaper now!

DOWNLOAD!

David Swan

David Swan is a tech journalist from Melbourne and is iTWire's Associate Editor. Having started off as a games reviewer at the age of 14, he now has a degree in Journalism from RMIT (with Honours) and owns basically every gadget under the sun.

Connect