RealTime IT News

Phoneware Online Buys Blue Planet ISP

[Sydney, AUSTRALIA] Phoneware Online has acquired Australian ISP Blue Planet for $1.8 million in cash and shares. Phoneware expects the acquisition to expand its ISP subscriber base in the residential and small-to-medium enterprise (SME) markets.

Phoneware will also take advantage of Blue Planet's billing facilities as part of the deal, a move it said will enable the company to expand its server farming and co-location facilities for ASP and Web hosting. Phoneware is also banking on the operations support system (OSS) billing platform to speed deployment of new services in WAP, voice, video, applications and content.

Phoneware Managing Director, Ms. Jenny Stilwell, said the acquisition will have a significant affect upon Phoneware Online's bottom line. "The acquisition is expected to inject revenues of at least $95,000 per month, with net profits of $480,000 per annum," she said.

"The acquisition also gives Phoneware Online access to Blue Planet's extensive dealer network to further expand our ISP subscriber base. As a result of this acquisition and the positive impact which will flow from it, we expect to increase our customer base by at least 300 percent before the end of the financial year."