Vocus Communications Limited
(ASX:VOC) has taken a 14.5 per cent stake in Macquarie Telecom Group as a strategic investment.
The telecommunications and data services company says the equity swap transaction of $15.6 million will not have a material effect on its business.
Macquarie Telecom is a full service hosting provider offering a range of managed services including server and cloud systems for government and corporate IT sectors.
Vocus says it will increase its non-current assets by the $15.6 million consideration with a corresponding increase in debt.
Vocus reported a net profit of $26.2 million in the first half of the 2015 financial year.
