Brisbane-based Fone Dynamics is set to be acquired by Adelaide-based telco Uniti Wireless for up to $8.4 million.
The communications platform-as-a-service company and 2018 CRN Fast50 finalist will also help Uniti expand into Queensland, while co-founder Jordan Grives joins the telco’s executive leadership team.
“This is a fantastic transaction for Uniti Wireless shareholders, which will deliver sizeable and growing cash earnings, in a space with substantial scope for expansion, given Fone Dynamics has only a small fraction of the available market,” Uniti chief executive Michael Simmons said.
“Jordan and his team are proven deliverers, with remarkable year-on-year revenue growth since inception, whilst maintaining very respectable margins and high customer retention.”
Fone Dynamics has a proprietary communications platform-as-a-service, focusing on inbound voice and business-grade SMS services.
The deal is expected to be completed on 1 June 2019, subject to regulatory approvals.
“The Brisbane base of Fone Dynamics also provides us with a Queensland ‘beachhead’, enabling us to also better support and expand our fixed wireless and private fibre footprints in that part of the country,” Simmons said.
“Fone Dynamics is a great example of the sort of opportunities which are available to Uniti Wireless within speciality telco services, the third ‘pillar’ of our growth strategy.”
Earlier this month, Uniti Wireless acquired internet service provider Pivit, bringing in 2000 customers to its fibre business. Uniti was also in discussions to acquire Melbourne-based Spirit Telecom, but was ultimately rejected.