Aspiretel Acquires Dot Net Ltd Business Assets

Aspiretel Acquires Dot Net Ltd Business Assets

Wednesday 15th December 2010. Telecommunications services provider AspireTel has executed an Asset Sale Deed to acquire the small and medium enterprise (SME) assets of Dot Net Ltd.

This transaction reflects a significant opportunity for the expanding AspireTel Group, which will increase customer revenues from internet and computer based opportunities, including broadband, computer, fixed line and mobile services, together with the Dot Net trading name.

AspireTel’s CEO Bryan Holmes said “due to convergence of the voice and data markets, the opportunity for AspireTel to expand into the software as a service (SaaS) market and sell add on cloud based server and data back up solutions is an exiting opportunity, which comes with higher margin’s compared to traditional based telecommunications services like fixed line telephony and broadband.

The Dot Net assets acquired by AspireTel in this transaction include the customer-base of around 4000 customers and the operational telephony infrastructure.

AspireTel and Dot Net will trade together simultaneously, under two separate competing brand names. AspireTel plans to work closely with the established Dot Net customer-base with a view of stimulating the Dot Net SME product and service offerings.

The acquisition of the assets by AspireTel marks the end of a period of uncertainty for Dot Net’s SME operations, following the appointment of Gerry Rea Partners as the liquidators on the 30th November 2010.

AspireTel paln to take on some of the Dot Net’s technical employees and will not maintain the company’s Pukekohe retail presence.

In terms of the financial benefits to AspireTel, the Dot Net business assets are expected to produce a bottom line increase in profitability within 6 months.

ENDS

© Scoop Media