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TeamTalk buys mobile radio businesses from Telecom

Media release

15 May 2001

TeamTalk buys mobile radio businesses from Telecom

Wellington-based telecommunications firm TeamTalk is delighted to announce to customers and staff the purchase of Fleetlink and other mobile radio businesses from Telecom.

TeamTalk yesterday completed the purchase of Telecom’s mobile radio businesses, which will see the company’s turnover increase to around $20 million annually.

“This is a fantastic day for the management team, TeamTalk customers and our staff,” said TeamTalk CEO David Ware. “I’m looking forward to welcoming on board the Fleetlink customers and the Telecom mobile radio staff.”

The sale includes Fleetlink – nationwide trunked mobile radio network – as well as Telecom’s other mobile radio services – Easyplan product rental, the EasyTrac vehicle location service and conventional mobile radio network.

Mr Ware said the purchase of Telecom’s mobile radio business creates some exciting opportunities for both customers and our team.

“Our coverage will increase, we’ll have more technical support, and we’ll be able to bring in a range of new products. All we do is mobile radio. And we’ve been doing it for seven years now. We pride ourselves on going the extra mile for our customers, to make sure your business keeps on moving.”

The Commerce Commission gave approval for the sale last year, finding the deal would be in the public interest.

Telecom’s operations are in the process of being merged into TeamTalk, and no disruption to customers is anticipated.

Prior to the deal being signed yesterday, TeamTalk was 50% owned by Wellington investment company Active Equities Ltd, and 50% by the management team.

Telecom will retain an interest in the merged business, holding a 19.9% stake in TeamTalk.

--- ENDS ---

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