Vocus Communications (ASX: VOC) has entered a binding agreement to acquire New Zealand-based data centre and Cloud provider, Maxnet, for $7.3 million (NZ$9.5 million)
The deal, set to be finalised by July, will net Vocus a 580 square metre Tier II data centre in Albany, Auckland, and 50 Maxnet staff members. The Maxnet operation is expected to generate $1.5 million (NZ$2 million) in earnings before interest, tax, depreciation and amortisation (EBITDA) for FY2013.
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Vocus chief executive, James Spenceley, told Computerworld Australia that the deal was part of the company’s long term-acquisition strategy and desire to extend its New Zealand IP transit operations to include data centre services.
No redundancies are expected at this stage and the Maxnet brand would be retained. Vocus NZ’s sole full time staff member will be moved to the Maxnet office in Auckland.
“We’re not coming in to make any big changes to the business, I think being owned by Vocus will give Maxnet a stronger ability to compete,” he said.
“We also think New Zealand has opportunity for growth in the data centre space and we want to be a part of that,” Spenceley said.
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