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ASX-listed cloud communications and telco services company Comms Group has acquired Melbourne-based Binary Networks for $1.8 million. Binary Networks provides telco services to small to medium-sized enterprises (SMEs) via a Layer-2 data network with points of presence in Sydney, Melbourne and Brisbane. It also operates a fixed wireless service in the rural Queensland town of Goondiwindi. Binary also has engineering capabilities with data networks, advanced voice services and internet protocol (IP). Comms Group also expands its head office headcount and bolsters its sales capabilities with the addition of Binary Networks’ staff. Binary founder Michael Diamond also joined Comms Group as head of systems and systems integration. ....
Comms Group buys up Binary Networks for $1.8M Expands footprint into SME sector. Peter McGrath (Comms Group) Credit: Supplied Comms Group has made a foray into the small- to-medium-sized business (SMB) market with the acquisition of Melbourne-based communications service provider Binary Networks. The $1.8 million deal will see Binary founder Michael Diamond join Comms Group as head of systems and M&A systems integration, through which he will assist with future acquisitions. According to publicly listed cloud communications provider Comms Group, Binary delivers Layer-2 data network roll-out to the group, with key points of presence in Sydney, Melbourne and Brisbane. With a particular focus on SMBs, Binary’s purchase is said to further enhance Comms Group s strategy in cementing its footprint in that space, plus delivering its NBN solutions. ....
Telecompaper Broadband Comms Group acquires Next Telecom, completes AUD 6.25 mln capital raising Monday 21 December 2020 | 18:31 CET | News Comms Group has announced it has acquired Next Telecom, a telecoms services provider serving the SME and mid-sized corporate business markets in Australia. The acquisition is subject to shareholder approval and expected to close on or around 29 January 2021. Comms Group has also completed an AUD 6.25 million capital raising via placement to partially fund the Next Telecom acquisition and for further acquisitions which includes AUD 2.5 million conditional placement subject to shareholder approval. Thank you for visiting Telecompaper Sign up below to get access to the rest of this article and all the telecom news you need. ....
Comms Group buys Next Telecom for $12M Comms Group buys Next Telecom for $12M Builds up Comms Group customer, product and service offerings Credit: Dreamstime Publicly listed business cloud communications provider Comms Group has purchased telecommunications service provider Next Telecom for up to $12 million. Next Telecom is based in Sydney and specialises in servicing medium sized businesses providing data services, including corporate fibre and National Broadband Network (NBN) products as well as cloud IP telephony, managed IT services, managed security and other telecommunications offerings. Comms Group CEO and managing director Peter McGrath said there was a strong rationale behind the acquisition as it provides a complementary customer base, and a good product and technology fit across voice, data and managed services. ....