Anittel (ASX: ‘AYG’) Executive Chairman and Managing Director, Peter Kazacos, said the sale of the business to BigAir (ASX: ‘BGL) will enable the company to focus its business around its rapidly expanding Hosted Collaboration Services (HCS) business alongside its well established IT Services and cloud business.
Kazacos said that, subject to several conditions precedent the sale agreement will be completed effective 31 January, 2014. He said the transaction followed on from the strategic review of Anittel’s business carried out by PWC as advised in the company’s most recent results announcement.
‘We believe this is a fantastic outcome for shareholders, clients, staff and the future Anittel business. The financial future of the business will have significantly improved underpinnings. Clients will enjoy enhanced benefits both via Anittel’s greater focus and ability to invest, and by its ongoing servicing capability via the arrangement with BigAir.
Kazacos said that the enhanced focus will enable greater investment in skills around technologies that are in increasing demand by Australian businesses.
“Importantly Anittel will, via a reseller arrangement with BigAir, retain the ability to service its IT clients in respect of their voice and data networking requirements along with Anittel’s traditional hosted IT services. This will see a continuity of the seamless service arrangements with anticipated overall benefits to the service being leveraged from BigAir’s scale and focus.
“The recent consolidation across the communications sector underscores the increasing importance of scale in this market sector, a factor recognised by this transaction,” Kazacos said.
Kazacos said that BigAir and Anittel will also enter into arrangements around the distribution of Anittel’s HCS offerings via the BigAir distribution network. “This will, in conjunction with Anittel’s broad reach, provide the potential for rapid uptake of this in-demand technology.”