Telstra Buys O2 Networks in $60 Million Deal
Published on: 19th Jan 2014
Note -- this news article is more than a year old.
By: Ian Mansfield
Australian telecoms network operator Telstra says that it has acquired O2 Networks an Australian provider of network and security consulting and integration services for Australian enterprise customers.
It is nothing to do with the European mobile network owned by Telefonica.
Headquartered in Melbourne, O2 has more than 100 staff serving 370 customers and has designed, implemented and managed networks for clients including some of Australia's largest financial institutions and government owned enterprises
Telstra's Network Applications and Services (NAS) Executive Director Michelle Bendschneider said the acquisition would contribute to Telstra's strategy of expanding its network services.
"As our customers shift towards cloud-based environments, they increasingly require capabilities to securely integrate networks, data centres and cloud-based applications," Ms Bendschneider said.
O2 Networks Managing Director Euan Prentice said O2 and Telstra enjoyed a long-standing relationship and the combination of O2 and Telstra was logical for both companies.
Ms Bendschneider said the O2 brand would be retained for the time being and all O2 staff will continue to be employed by Telstra after the acquisition. The acquisition is complete and was not subject to ACCC approval.
Although financial terms were not disclosed, local reports said that it was for around AU$60 million.