Published on the 21/09/2009 | Written by Newsdesk
Communications solutions provider says the $1.9 million deal will broaden its telephony offering…
Communication technology solutions provider Zintel Group has reached a conditional agreement to acquire the business of Cogent Communications for $1.9 million, effective October 1.
Cogent, a Onesource Group company, is a business telecommunications specialist with New Zealand-wide coverage.
Zintel says the acquisition extends its service capability across New Zealand and enables the combined entity to build a broader offering of business telephony solutions including hardware and software applications, voice services, cabling and consultancy.
“We have been consistent in our communications to the market with regard to accumulating cash reserves and being patient in our wait for the appropriate opportunity at the right time,” says Nick Gordon, chairman of Zintel’s board of directors.
“This acquisition is an ideal fit as part of our wider growth strategy.”
Gordon says the combined revenue of Zintel and Cogent is expected to exceed $60 million on an annualised basis and the combined operation will have a total of 250 employees across New Zealand and in Zintel’s Sydney office.
