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Tuesday, 23 August 2011 10:26

Eftel buys Platform Networks

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Eftel (ASX: EFT) has bought wholesale telecommunications service provider Platform Networks - one of the first telcos to sign up to resell NBN Co services as a wholesaler - for an undisclosed sum.

Eftel CEO Scott Stavretis said: "Platform Networks has had consistent monthly revenue growth due to a strong demand for their services from a multitude of providers. The business brings a current run rate of over $6 million in annual revenue. Combining this business with the strong supply relationships that Eftel has procured will ensure we can add positive EBITDA straight to the bottom line."

He promised that Eftel would continue the Platform Networks business in its current form, saying: "Our priority to release a range of products missing from the current product suite, including mobile telephony and 3G mobile broadband. Platform Networks customers have expressed a demand for these products and Eftel has them ready to go."

He added: "Platform Networks also brings to Eftel a range of data centre services that will enable us to provide to our corporate customers a range of solutions in the rapidly growing cloud based hosting market'¦The scale that the Platform Networks business brings cements our place as one of only a few complete wholesale service providers, which has helped gear us towards ensuring we will be an active player in the NBN world."

Eftel - which has also signed up with NBN Co, as a provider of services in the current mainland trials - was recently the subject of a reverse takeover by ClubTelco, an ISP and telco service provider owned by the founders of Dodo. The deal resulted in ClubTelco shareholders acquiring 76 percent of Eftel shares.

At the time of the acquisition, in April, ClubTelco had around 60,000 services, including ADSL, fixed line telephony, VoIP, mobile broadband and mobile telephony and generated approximately $28m annual turnover, and the transaction doubled the size of Eftel to 120,000 active services and annual turnover in excess of $55m.

Platform Networks is a wholesale only provider of telecoms services, it boasts "We have become the premier provider of wholesale aggregated telecommunications for the Internet service provider, small to medium telco, systems integrator and content provider market spaces."

The company also became infamous as the victim of the 'lone hacker' spectacularly captured, and captured on video, by the Australian Federal Police in what came across as more of an AFP publicity stunt than the apprehending of a major villain.

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