Telstra Corporation Limited
(ASX:TLS) has bought Asian telecommunications and services provider Pacnet Limited for $US697 million as part of its push beyond Australia.
Pacnet is described as a provider of connectivity, managed services and data centre services to carriers, multinational corporations and governments in the Asia-Pacific region.
Australia’s biggest telco says the acquisition will give it ownership of an extensive range of services and major customers across the region.
While the deal is subject to regulatory and Pacnet financier approvals it is expected to be tied up by mid 2015.
Telstra Corporation reported a net profit of $4.34 billion in the 2014 financial year.
