Telecom Corporation of New Zealand (ASX:TEL, NZE:TEL) will expand its cloud offering through the acquisition of business cloud specialist Appserve. The dual listed telco says the purchase price is for $NZ17 million, or about $AUD15.7 million.
CEO Simon Moutter believes Auckland-based Appserve will give the company a very strong New Zealand Cloud services portfolio.
The acquisition is also expected to complement Telecom’s purchase of Revera last year and its ongoing investment in data centres.
While the deal is subject to conditions it is expected to be tied up by early next month.
Telecom Corporation of New Zealand reported a net profit of $153.5 million in the first half of the 2014 financial year.
