Pacific Internet Acquires Australian ISP
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To penetrate the Australian market, Pacific Internet Ltd. (NASDAQ: PCNTF) has purchased the business of Mira Networking Pty Ltd, an ISP in Australia.
"Mira Networking is one of the finest providers of Internet access services in Australia making the company an ideal addition to Pacific Internet. This acquisition is the first of many steps that we plan to take in building a nationwide Internet presence in Australia," said Chan Wing Leong, chairman of Pacific Internet.
"We have made excellent progress on our due diligence of promising ISPs in Australia and expect to acquire more quality ISPs in the near future. "
Founded in 1994, Mira Networking Pty Ltd, is an ISP based in Melbourne, Australia, with points of presence in Perth, Brisbane, Adelaide, and Sydney.
The acquisition of Mira Networking's subscribers will enable Pacific Internet to jump-start its Australian operations and is expected to contribute significantly to the company's regional expansion.
"We are extremely excited about the possibilities that this acquisition will create for us in Australia," said Nicholas Lee, PacNet's CEO.
"As a result of the acquisition, Pacific Internet will gain the advantage of Mira Networking's customers, operations and ISP expertise in Australia. We intend to carefully integrate Pacific Internet's successful ISP model into Mira Networking's operations to provide our new customers with the same high level of service that our present customers enjoy in Hong Kong, Philippines and Singapore."
PacNet recently filed for a second set of share offerings on NASDAQ.