News : Over the Wire Inks Agreements to Buy Access Digital Networks, Comlinx
Parkside, SA, Australia, Oct 19, 2018 -- 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.
Access Digital Networks is a South Australian based provider of business grade telecommunications services, and Brisbane-based Comlinx 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 2018.
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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," Omeros concluded.
Posted by Veronica Silva Cusi, news correspondent
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Published: Monday, October 22, 2018