[Sydney, Australia, June 16, 2000]: Regional wireless
telecommunications carrier Datafast will become one of the
largest regional service providers in south eastern Australia, after
announcing it will acquire fellow regional business and private ISP
With the purchase, Datafast will add more than 6500 new customers and
over AUS$1 million (US$580,000) to its annual gross revenue.
Datafast will issue 3.75 million shares for the acquisition, 75 percent
of which will be held in voluntary escrow for two years.
Datafast sees the purchase as key to its strategy to expand its
network infrastructure across regional areas. “Our intention is to
deliver to regional Victoria cost effective phone and Internet services,
and this particular deal signals our commitment to strategically grow
the business and expand out service offering,” said Datafast chief
executive officer Kim Wood.
Among these services are wholesale and retail Internet products,
radio and data services and a range of planned intelligent network
products, including regional telephony.
Four-year-old Network Technology has built its customer base around
small to medium enterprises, software suppliers and domestic users.