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BDFL - Memuneh
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  #788196 27-Mar-2013 19:36
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And Tom has some more tidbits now: Orcon sale announcement expected.




 

 

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  #788204 27-Mar-2013 19:56
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Bloody Vodafone have recently purchased TelstraClear who I've been with for years, who in turn purchased Paradise.net

I'll have to see how VF treats the customers it has brought over from TC. Good customer service and all that jaz.




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  #788257 27-Mar-2013 21:25
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Makes a joke of spending time choosing an ISP.

This buying and selling lark is a bit like your mother hitching up with a new bloke - wonder if he will be kind to us kids or will we get beaten up?

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  #799621 15-Apr-2013 13:18
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Just received:


Kordia has sold Orcon, its residential and business ISP. The buyer is a group of New Zealand business people, headed by Warren Hurst, Managing Director of Vivid Networks.

Kordia Group Chairman David Clarke says the Kordia Board is pleased to announce the sale.

“Under Kordia, Orcon’s annual turnover has increased by almost 400%,” he says. “But structural changes in the market place mean there are likely to be better opportunities for Orcon with a different owner.

“Orcon played an important role in Kordia’s transformation from a broadcast to broadband business,” says Clarke.

Late last year, Kordia integrated Orcon into the Kordia Networks business, creating Kordia New Zealand. Kordia New Zealand CEO Scott Bartlett says it was this move that sparked interest from a number of buyers.

Bartlett says he believes the sale will lead to a more sharply focused Kordia, with a sole aim to be the country’s leading business network provider.

“Kordia is fundamentally a ‘B2B’ business, so being able to reset our strategy to better focus on delivering exceptional service to our business customers is really where we need to be,” he says.

"It is business as usual for Orcon - the new owners are committed to providing excellent service and delivering the innovation and expertise Orcon is renowned for."

Bartlett expects that new ownership will help boost Orcon’s growth and development.

“Management from both parties is committed to making sure the sale transition period is as smooth and straightforward as possible. The new owner will need existing staff and capacity to ensure the business continues to run smoothly and make a profit.” he says.

Warren Hurst says Orcon is a well-respected, technically innovative and profitable ISP with excellent growth prospects.

“The business is in good shape. It has a sound technology platform and quality staff. We will soon be announcing the appointment of a new CEO. At that time we will discuss our growth strategy going forward. In the meantime, it will be very much business as usual for Orcon customers,” Warren Hurst said.

The deal closed last Friday. Kordia bought Orcon in July 2007 for $24m.




 

 

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  #799626 15-Apr-2013 13:27
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maverick: .... If only i had a Vivid marker ???

I like this game Wink


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  #799628 15-Apr-2013 13:30
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So question is who's behind Vivid, they are a tiny health ISP so no way they had access to the cash needed to buy someone like Orcon




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  #799629 15-Apr-2013 13:31
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As the release says "The buyer is a group of New Zealand business people, headed by Warren Hurst, Managing Director of Vivid Networks."




 

 

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  #799630 15-Apr-2013 13:32
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Was no price formally disclosed?

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  #799634 15-Apr-2013 13:37
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networkn: Was no price formally disclosed?


I imagine it will be disclosed at least when Kordia give their results at year end. I think that becomes public knowledge then.

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  #799637 15-Apr-2013 13:39
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Interesting article on Computerworld, Why I bought Orcon.




 

 

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  #799709 15-Apr-2013 16:19
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I wonder if it went for more than 24mil. Looking forward to seeing the figures later on.

As an SOE, is Kordia subject to the Official Information...?

It does feel right that a SOE no longer runs a major ISP.

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  #799724 15-Apr-2013 16:33
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myfullflavour: I wonder if it went for more than 24mil. Looking forward to seeing the figures later on.

As an SOE, is Kordia subject to the Official Information...?

It does feel right that a SOE no longer runs a major ISP.


If it;s fair value back then ws $24m, one would think (hope!) it is worth more now.

however, the broadband market was very profitable back then and as a Kordia guy put it recently it is now "a race to the bottom".



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  #799756 15-Apr-2013 17:32
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freitasm: Interesting article on Computerworld, Why I bought Orcon.


Isn't it Class 5 Soft Switches? Not "Cat 5..."? (in the article)




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  #799757 15-Apr-2013 17:34
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sonyxperiageek: Isn't it Class 5 Soft Switches? Not "Cat 5..."? (in the article)


Technically, yes.  Personally I'm excited about the sale, some interesting times ahead...

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  #799767 15-Apr-2013 17:47
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NonprayingMantis:
myfullflavour: I wonder if it went for more than 24mil. Looking forward to seeing the figures later on.

As an SOE, is Kordia subject to the Official Information...?

It does feel right that a SOE no longer runs a major ISP.


If it;s fair value back then ws $24m, one would think (hope!) it is worth more now.

however, the broadband market was very profitable back then and as a Kordia guy put it recently it is now "a race to the bottom".




They also purchased some other companies since then, which should have increased the value. They purchased iserve, not sure how much that cost them?

Really hope they improve their web hosting support. (currently waiting for a reply and can sometimes takes days ) Ringing is faster but shouldn't be, as that would cost them a cell phone call each time I call them, while email is free.

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