MyNetFone has reached an agreement to sell its fixed line residential customer base to Moruya, NSW-based Southern Phone Company.
The deal came after a review of MNF’s legacy residential broadband business that found residential services are non-core business.
The company will still keep its MyNetFone VoIP customer base and its PennyTel mobile customer base.
“Southern Phone and MNF have been working closely together for over 18 months, jointly leveraging each other’s extensive software capabilities through API integration for number porting and other voice capabilities,” MNF said in a statement.
“The transaction is another example of the close working relationship that has developed between the two companies.”
MNF did not reveal the terms of the deal, but said the sale is not material to the company and is not expected to affect its current FY2019 forecast. The company also expects some operational cost savings once the migration is completed.
Southern Phone is an independent provider of fixed-line, mobile and internet communications services that caters to customers in regional Australia. The telco anticipates it will complete the migration of the whole customer base at the end of May 2019.