Inabox gets shareholder approval to buy Anittel business

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Inabox gets shareholder approval to buy Anittel business

Telco wholesaler Inabox has obtained shareholder approval to purchase the business of IT and cloud services provider Anittel.

The acquisition is scheduled to complete on or about 1 January 2015. On completion, payment includes $500,000 cash and the issue of 6,153,846 new Inabox shares to Anittel shareholders. 

A further payment of up to $1.5 million in cash may be payable depending on the performance of the Anittel business in the second half of the 2015 financial year.

Inabox CEO Damian Kay said the deal would position Inabox as a national end-to-end IT cloud and telecommunications provider.

Anittel has a list of major technology partners and includes among its achievements the deployment of Cisco's Hosted Collaboration Solution in Tasmania with over 8000 endpoints.

In early 2014 Anittel completed the sale of its network and carrier business to BigAir for $6.5 million.

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