Wholesale VoIP Featured Article
MyNetFone Acquires Connexus in Hopes of Boosting Wholesale VoIP Business
While the wholesale VoIP market is oozing with opportunities fresh for the taking, it seems some companies just need a little bit of a push to help strengthen or maintain business. In light of this, Internet telephony specialist MyNetFone has acquired Melbourne-based Internet provider Connexus for $4.75 million in an attempt to boost voice traffic on its network.
While this strategic buy will hopefully lift the company’s traffic, Rene Sugo, the company’s chief executive, explained that this move served as a part of the company’s plan to grow its subscriber base as well as take advantage of the national network capacity it obtained through its purchase of Symbio (News - Alert) Networks back in February.
MyNetFone offers services for businesses and residential customers alike, allowing them to use a conventional phone number to place calls over the Internet and its subsidiary Symbio’s backhone network, as well as offers wholesale VoIP access to its network.
The Australian also reported Sugo as mentioning that the company was operating at less than 50 percent capacity providing for the 97,000 residential and business VoIP services it carried. By acquiring Connexus, however, the company will hopefully establish itself as a “one-stop shop for hosted voice, e-mail and services for small and medium-sized businesses.”
Adds Sugo, "One of the strategies is to try to acquire customers on to our network or acquire businesses that let us grow quickly and use up that capacity, because the more we use it the more efficient it becomes and the more profitable we are.”
The acquisition, which is looking to be completed next month, is expected to push the group’s earnings before interest, tax and depreciation for the year to be about $5.83 million, the site concludes.
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Edited by Rachel Ramsey