Friday, 19 October 2018 11:25

Over the Wire inks agreements to buy Access Digital Networks, Comlinx Featured

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ASX-listed telecommunications, cloud and IT solutions provider Over the Wire has inked binding agreements to acquire all the shares in Access Digital Networks, and all shares in Comlinx.  

The deal sees Access Digital Networks being purchased for $10.4 million and Comlinx bought for $12.8 million.

The acquisitions by Over the Wire are fully funded by an institutional placement of $21.5 million priced at $4.30 per share and existing cash, with completion of the acquisitions expected by the beginning of November.

Access Digital Networks is a South Australia-based provider of business grade telecommunications services, and Brisbane-based Comlinx is a provider of IT managed solutions offering cross-sell opportunities to the Over the Wire group.

Over the Wire says the acquisitions are a continuation of its existing business strategy and will contribute to group earnings from 1 November.

The company also says the acquisition of Access Digital Networks accelerates its geographic expansion into South Australia, while the acquisition of Comlinx provides its customers with a broader product offering and additional value added services that can facilitate the pull through of revenue from its network and voice divisions.

Over the Wire managing director Michael Omeros said, “We are very excited to be able to welcome Access Digital Networks and Comlinx to the Over the Wire group. Access Digital Networks and Comlinx are high quality businesses with quality teams that will integrate well with Over the Wire.

“Access Digital Networks expedites our geographic expansion plans into South Australia whilst Comlinx introduces some complimentary new offerings via intelligent networks, contact centre / customer experience and cyber security solutions, which will be of great benefit to our existing customers.

“We will continue to target 20% year on year organic growth, together with achieving very high levels of customer retention."

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Peter Dinham

Peter Dinham is a co-founder of iTWire and a 35-year veteran journalist and corporate communications consultant. He has worked as a journalist in all forms of media – newspapers/magazines, radio, television, press agency and now, online – including with the Canberra Times, The Examiner (Tasmania), the ABC and AAP-Reuters. As a freelance journalist he also had articles published in Australian and overseas magazines. He worked in the corporate communications/public relations sector, in-house with an airline, and as a senior executive in Australia of the world’s largest communications consultancy, Burson-Marsteller. He also ran his own communications consultancy and was a co-founder in Australia of the global photographic agency, the Image Bank (now Getty Images).

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