Telcos company, amaysim Australia Ltd
(ASX:AYS), is planning to expand into the broadband internet market, in readiness for the rollout of the National Broadband Network.
amaysim says it will grow its broadband subscriber base, while maintaining its low cost of acquisition and low cost to serve.
To transition into the broadband market, amaysim has entered a deal to buy all the shares in Australian Broadband Services Pty Ltd (AusBBS).
This deal is expected to complete in late August, and amaysim will pay $1 million in cash, and $3 million worth of amaysim shares.
amaysim reported a net profit of $681,000 at 31 December 2015.
