Telstra Corporation Limited
(ASX:TLS) has inked a deal to buy a provider of media services for broadcasters in Australasia called Globecast Australia.
Australia’s biggest telecommunication company says its broadcasting customers increasingly require live distribution of content from a diverse range of global content providers.
In response Telstra expects the acquisition will develop deeper capabilities in media services for its customers in the broadcasting industry.
The purchase price and terms have not been disclosed and Telstra has advised the acquisition is subject to review from Australia’s competition regulator prior to completion.
Telstra reported a record net profit of $2.1 billion in the first half of the 2015 financial year.
