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

 

Prefu Roundup: Forecasts Revised, Surplus Intact

The National government heads into the election with its Budget surplus target broadly intact, delivering a set of economic and fiscal forecasts marginally revised from May to reflect weaker commodity prices and a lower tax take. More>>

ALSO:

Convention Centre: Major New SkyCity Hotel And Laneway For Auckland

Today SKYCITY Entertainment Group Limited revealed plans to build a new hotel and pedestrian laneway of bars, restaurants and boutique shopping on land it owns in the Nelson and Hobson Streets block, expanding the SKYCITY Entertainment Precinct. More>>

ALSO:

Igniting The Spark: Bringing The Digital Enabler To Life

Changing a name is, relatively speaking, the easy part of a re-invention. Changing a culture, getting all the ducks in a row, turning yourself inside-out to become customer-inspired is a much bigger challenge. More>>

ALSO:

Ebola And NZ: Targeted Screening At Airport But Risk Low

The risk of any cases of Ebola in New Zealand remains very low, but health and border authorities are well prepared... anyone arriving in New Zealand who in the last three weeks has visited countries affected will be screened for symptoms of the disease. More>>

ALSO:

Scoop Business: Brewer Seeking Crowd-Funding Cancels Shareholders’ Dividends

Shareholders in Renaissance Brewing company, the first business to seek equity through crowd-funding in New Zealand, have cancelled their claim on $147,000 of accumulated earnings “to make Renaissance a more attractive investment opportunity.” More>>

ALSO:

It's Spark Now:
Why Telecom Wanted To Change

New Zealand led the world when Chorus demerged from Telecom. It gave us a telecommunications industry structure where the network is completely separated from the products and services it delivers. The changes brought about a new market dynamic and it dramatically changed Telecom’s role. More>>

ALSO:

Glass Half Empty: Dairy Prices Fall To Lowest Since 2012

Dairy product prices slumped to the lowest level since October 2012 in the latest GlobalDairyTrade auction, paced by whole milk powder and cheddar. More>>

ALSO:

Get More From Scoop

 
 
Computer Power Plus

Standards New Zealand

Standards New Zealand
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news