The ASX listed company has announced it has signed a binding agreement to acquire all of the shares in Telarus, with the deal — valued at $7.615 million — expected to be completed in mid-January.
Established in 2002, Telarus delivers business grade telecommunications solutions to Australian and New Zealand SME and enterprise customers.
Over the Wire (ASX:OTW) managing director Michael Omeros said the acquisition of Telarus expedites the company’s geographic expansion plans into Victoria “as well as introducing some complimentary new offerings in managed security and mobile data, which will be of great benefit to our existing customers”.
Omeros said Telarus provides a respected, high quality platform for growth, with a high quality customer base offering cross-sell and interstate expansion opportunities.
He said Telarus introduces new products in the areas of managed security and mobile data that will be well received by the existing Over the Wire client base.