Brisbane telco Over the Wire to pay $7.6 million for Melbourne's Telarus

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Brisbane telco Over the Wire to pay $7.6 million for Melbourne's Telarus
Michael Omeros

Brisbane-based telecommunications provider Over the Wire has announced plans to acquire Melbourne-based Telarus for $7.6 million.

The acquisition is expected to close on 16 January 2017.

Telarus closed the 2016 financial year with a revenue of $11.6 million, 25 staff and more than 300 business customers.

Telarus was established in 2002 and delivers business-grade telecommunications solutions to small and medium enterprise customers in Australia and New Zealand.

The acquisition will help Over the Wire (OTW) expand its business in Victoria and introduce new products in the areas of managed security and mobile data to OTW's customer base.

Michael Omeros, OTW managing director, said: "Telarus is a high-quality provider of managed networks, managed security and private cloud led by a well-respected industry veteran, Dennis Muscat.

"Telarus expedites our geographic expansion plans into Victoria as well as introducing some complimentary new offerings in managed security and mobile data, which will be of great benefit to our existing customers."

OTW listed with the Australians Securities Exchange in December 2015. In the 2016 financial year, the company posted a 46 percent growth in revenue, reaching $23.6 million. EBITDA increased 54 percent to $5.4 million.

The growth was attributed to acquisitions made before the public listing, including the purchase of Gold Coast-based VoIP business Faktortel for $3.6 million and Brisbane-based data centre and enterprise hosting business Sanity for $5.2 million.

OTW has also acquired Spiderbox for $700,000 in March 2016.

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