Over the Wire Holdings Limited (ASX:OTW)
has announced it will acquire telecommunications company Telarus for $7.165 million.
The acquisition will accelerate Over the Wire’s geographic expansion into Victoria, where Telarus is currently headquartered.
Other benefits include the introduction of new managed security and mobile data products into the Over the Wire product line up, which will be made available to existing customers.
The purchase will be funded by existing cash reserves and debt.
Over the Wire Limited reported a net profit of $2.85 million at 30 June 2016.