CallPlus adds Orcon to its stable of Slingshot and Flip
June 20 (BusinessDesk)
Independently owned internet service provider CallPlus has added Orcon to its stable of interests, which include the Slingshot and Flip ISP brands, for an undisclosed sum.
Speculation about an imminent deal had been running hot in recent days, with the consolidation giving CallPlus around 15 percent of the New Zealand ISP market, annual turnover of more than $200 million and more than 500 staff.
"The company now has three challenger brands which appeal difference segments in the market," said CallPlus group chief executive Mark Callander. "The company is strongly positioned to further take on the big boys."
Orcon's branding and market positioning will not change.
Founded originally by Auckland entrepreneur Seeby Woodhouse, Orcon was purchased in 2007 by state-owned telecommunications group Kordia for $24.3 million. Kordia sold Orcon to a group of private investors in April last year, led by Vivid Networks director Warren Hurst.