Australian-listed VOCUS Communications Limited has entered into a binding agreement to acquire New Zealand-based Data Centre operator and Cloud provider Maxnet Limited.
Maxnet owns and operates one of Auckland’s best known and premier Data Centres located just outside the Auckland CBD in Albany. In addition to the Data Centre operations, Maxnet is also one of the leading New Zealand providers of Cloud based services, offering a host of Infrastructure as a Service based (IaaS) products.
James Spenceley, CEO of Vocus said “The Maxnet acquisition complements Vocus’ strong IP Transit operations in New Zealand. It not only provides Vocus with one of New Zealand’s leading Data Centres but also one of the most established providers of Cloud Services, marking Vocus’ next step into the high growth Cloud market.”
Douglas Kemsley, Maxnet’s outgoing Chairman said “This is very good news for Maxnet’s clients and the broader New Zealand marketplace. Our wide range of quality Data Centre and cloud services will be further strengthened by this acquisition. Vocus is the ideal company to take Maxnet to the next level.”
The Maxnet operation is expected to generate approximately NZ$2.0 million in Earnings Before Interest, Tax, Depreciation and Amortization (EBITDA) in FY13. The total consideration for the acquisition is NZ$9.5 million, which includes a deferred consideration based on performance.
The acquisition will be funded with bank debt and further consolidates Vocus’ position as one of the leading Telecommunications and Data Centre operators in Australia and New Zealand.