Via IP and Planet Tel Group have signed a definitive agreement in which Planet Tel acquired Via IP, effective as of July 8.
The two companies have more than 20 years of industry experience combined. The acquisition is seen as a strategic move by Planet Tel into wholesale aggregation.
Planet Tel Group managing director, Gary Sue Fong, said the acquisition further enhances the firm's proposition and is part of the group's strategy to focus on the ICT integration market.
"Our customers are typically mid-large enterprises and with the acquisition of Via IP's network assets we will be in a better position to provide a wider range of products and services that we develop, own and manage. This opportunity provides both businesses with a complementary set of assets and strengthens our abilities to service our customers much more efficiently."
Both firms said the acquisition will not only combine their respective business operations, expanding both portfolios, but also increase the team's ability to serve the changing needs of customers with the latest technology.
Via IP said it will focus its attention to wholesale aggregation.
Founder and Managing Director of Via IP, Heath Donald, will join Planet Tel Group as chief technology officer and will continue to manage Via IP.
"The acquisition of Via IP from by The Planet Tel Group is a value enhancing proposition within the telecommunications industry in Australia. Our businesses are complementary, therefore the collaboration creates synergies and make us a stronger competitor overall. This strategic direction enables Via IP to accelerate its position in the wholesale provider market with a range of exciting new products and services set to be released in Q314," he said.
Both companies will continue to operate independently after the acquisition.