Hostech Limited (HTC) is pleased to announce the acquisition of the customers of D2K’s Townsville for cash consideration of $90k and the issue of 1,111,112 Hostech shares. The cash component has been funded from operational cash flow.
The acquisition will significantly enhance the Company’s existing Townsville operation and will have a positive impact on Hostech’s earnings this financial year. The customer base includes some of Townsville’s leading businesses and has been developed by D2K’s focus on customer service and delivering value. D2K Townsville is the first acquisition by the Company since the successful acquisition and integration of Anittel, Axxis, Aspirence and Accord during April. The board would like to take this opportunity to re affirm its commitment to growth through acquisition to compliment the strong growth currently enjoyed by the business.
Hostech provides under the Anittel brand voice, data, mobility, PBX , IT and hosted IP telephony services to small and medium sized enterprises, with a particular focus on regional Australia. The company is expanding through organic growth and targeted acquisitions to offer the scale, geographic reach and expertise for existing and prospective customers in this underserved market space.