Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Telecom pays $17M for Appserv to widen cloud offering

Telecom pays $17M for Appserv to widen cloud offering to smaller businesses

By Tina Morrison

Jun. 18 (BusinessDesk) - Telecom Corp., New Zealand's largest telecommunications company, agreed to pay $17 million for cloud services specialist Appserv, widening the services it can offer to businesses after purchasing Revera last year.

"Revera is a cloud computing specialist that provides cloud solutions predominantly for government and corporates, while Appserv brings specialist cloud desktop-as-a-service solutions for a range of business sizes, particularly small to medium sized," Telecom chief executive Simon Moutter said in a statement. "The combined capabilities of Appserv and Revera mean we can now offer leading cloud computing expertise to all New Zealand businesses, through Telecom and Gen-i sales channels."

Auckland-based Telecom, which will change its name to Spark in August, plans to boost earnings by shifting its focus to data, mobility and cloud services. Closely-held Appserv, also based in Auckland, has more than 14 years of consistent growth and offers a complete IT infrastructure service to business.

Shares in Telecom last traded at $2.75, and have gained 19 percent so far this year. The stock is rated an average 'hold', according to analysts polled by Reuters.

The agreement to buy Appserv is expected to be completed by early July, Telecom said.


(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Scoop Business: NZ Dollar Catches Breath After "Goldilocks" Slump

The New Zealand dollar edged up following its dramatic slump yesterday after the Reserve Bank confirmed speculation it intervened in the currency market last month and PM John Key suggested a “Goldilocks” level far lower than at present. More>>

ALSO:

Biosecurity: Kiwifruit Claim To Hold Officials Accountable For Psa

Kiwifruit growers have joined forces to hold Biosecurity NZ accountable in the courts for its negligence in allowing 2010’s Psa outbreak that devastated New Zealand’s kiwifruit industry and exports. Foundation claimants representing well ... More>>

ALSO:

Poison: Anglers Advised Not To Eat Trout In 1080 Areas

With the fishing season opening in just a few days (1 October 2014), anglers are being warned by the Department of Conservation(DOC) not to eat trout from pristine backcountry waters and their downstream catchments, where the department is conducting 1080 poisoning operations. More>>.

ALSO:

Quotas: MPI Swoop On Suspected Fraudulent Fishing Activity

Ministry for Primary Industries (MPI) compliance officers swooped on a Hawkes Bay fishing enterprise today to secure evidence in an investigation into suspected fraudulent activity... “The investigation involves activity throughout the commercial supply chain – catching, landing, processing and exporting.” More>>

ALSO:

Scoop Business: Fonterra Slashes 2015 Milk Payout, Earnings Tumble 76%

Fonterra Cooperative Group cut its forecast 2015 milk price payout by about 12 percent, citing weaker global dairy prices and said there is a risk of further declines given strong global milk production. More>>

ALSO:

Scoop Business: RBNZ Keeps OCR At 3.5%, Signals Slower Pace Of Future Hikes

Reserve Bank governor Graeme Wheeler kept the official cash rate at 3.5 percent and signalled he won’t be as aggressive with future rate hikes as previously thought as inflation remains tamer than expected. The kiwi dollar fell to a seven-month low. More>>

ALSO:

Weather: Dry Spells Take Hold In South Island

Many areas in the South Island are tracking towards record dry spells as relatively warm, dry weather that began in mid-August continues... for some South Island places, the current period of fine weather is quite rare. More>>

ALSO:

Get More From Scoop

 
 
Computer Power Plus

Standards New Zealand

Standards New Zealand

Mosh Social Media
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news