Hostech Limited (HTC) advises that it has reached agreement to purchase the assets of 5Star and OfficeLink+. Final contracts are currently being prepared by the parties. The addition of the 5Star and OfficeLink+ customer bases and accompanying annuity revenue streams add an exciting dimension to the business and will enable HTC to offer its customers a broader range of communications services.
Carlos Perez comes with an impressive track record in telecommunications having founded T3 Communications in January 2002 and then selling the company to Pacific Internet (Australia), in 2005. Carlos has been successfully involved in eight telecommunication start up operations in eight different countries. He has also held senior finance roles at other Australian publicly listed companies. Frank Bradicich is equally well credentialed as a long established sales professional in the industry. 5Star was formed in 2007 and quickly reached break even in late 2008.
Carlos Perez comments that “Hostech represents an exciting opportunity to deliver a greater array of communication products to SMEs through a single company while delivering excellence in customer service. The combination of a customer focused team and the Board’s commitment to cash accretive acquisitions will deliver sustainable value to shareholders.”
Tags: Hostech, HTC, New acquisition, Telecommunications
