Oct, 2010 : Vocus Acquires Data Centers in Sydney and Melbourne
📅 - The acquisition further enhances the company service offering for its 120 ISP and telecommunications industry customers.
Vocus Communications Ltd., a telecommunications provider of wholesale Voice, Peering and International Internet connectivity to telecommunications companies and ISPs, today announced that it has entered into a binding agreement to acquire the Sydney and Melbourne data center businesses from E3 Networks. The company says that the transaction is for a total consideration of $5.9 million, to be paid as $4.9 million in cash and $1 million in Vocus shares. The cash component will be funded from its existing cash resources. It adds that the transaction will add at least $1.5 million of underlying annualized profit before tax to the company's bottom line.
The company claims that its first acquisition will allow providing its customer base with independent data center space in Sydney and Melbourne where space has becoming increasingly scarce.
It articulates that in addition to acquiring the infrastructure and existing cash flows, the Sydney and Melbourne E3 teams will join the company with E3 Founder and CEO, Jon Eaves becoming the General Manager of its Data Center division. Eaves will assume responsibility for the management and expansion of the data center business unit.
According to the company, the deal covers two existing data centers, with an additional 400 square meters to come online in the next 45 days in Sydney. These modern facilities have been constructed in the last two years, with the Sydney data center allowing power density ratings of up to 30KW per rack.
James Spenceley, Vocus CEO, said, "E3 and Jon Eaves have a great reputation for building and operating data centers and the combination will attract new customers for both data center space and our core wholesale telecommunications products."
Jon Eaves said, "The merged organization will consolidate Vocus' position as a leading independent wholesale telco. We can build on the technical strengths of both Vocus and E3 to leverage increasing customer demand in both the data center and telco markets."
Vocus Communications Ltd., a telecommunications provider of wholesale Voice, Peering and International Internet connectivity to telecommunications companies and ISPs, today announced that it has entered into a binding agreement to acquire the Sydney and Melbourne data center businesses from E3 Networks. The company says that the transaction is for a total consideration of $5.9 million, to be paid as $4.9 million in cash and $1 million in Vocus shares. The cash component will be funded from its existing cash resources. It adds that the transaction will add at least $1.5 million of underlying annualized profit before tax to the company's bottom line.
The company claims that its first acquisition will allow providing its customer base with independent data center space in Sydney and Melbourne where space has becoming increasingly scarce.
It articulates that in addition to acquiring the infrastructure and existing cash flows, the Sydney and Melbourne E3 teams will join the company with E3 Founder and CEO, Jon Eaves becoming the General Manager of its Data Center division. Eaves will assume responsibility for the management and expansion of the data center business unit.
According to the company, the deal covers two existing data centers, with an additional 400 square meters to come online in the next 45 days in Sydney. These modern facilities have been constructed in the last two years, with the Sydney data center allowing power density ratings of up to 30KW per rack.
James Spenceley, Vocus CEO, said, "E3 and Jon Eaves have a great reputation for building and operating data centers and the combination will attract new customers for both data center space and our core wholesale telecommunications products."
Jon Eaves said, "The merged organization will consolidate Vocus' position as a leading independent wholesale telco. We can build on the technical strengths of both Vocus and E3 to leverage increasing customer demand in both the data center and telco markets."
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