re: annc 8/12/04
destra subsidiary, Techex, acquires Veritel customer base Page 1 of 2 FOR IMMEDIATE RELEASE 8 December 2004 destra acquires Veritel DSL customers in bid to strengthen communications service provider activity Techex Communications, a communication services organisation with complete end-to-end managed services and a wholly owned division of destra Corporation Limited (ASX:DES) (destra) has acquired all of Veritel Australia’s broadband DSL customers. destra’s strategy to offer a one stop shop business communications solution was made more compelling with the acquisition of Techex in October. Techex delivers high quality broadband, wireless, voice, managed services, VPNs and related products to businesses, education and government departments nationally.
will this push it along?...
Techex, along with other destra divisions, will undergo a rebrand in 2005, at the same time as the company launches new market initiatives. The Veritel purchase was made using operating cashflow and will bring an additional $500,000 in revenue to destra Corporation, adding immediate profitability to bottom line.
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The additional 350 business broadband customers strengthens the customer base and offers upsell opportunities for destra’s other business offerings which include shared hosting for SMEs, high end web hosting services for larger customers and comprehensive domain registration services. Domenic Carosa, destra Corporation’s CEO, said,” Today, there are few companies that have the breadth of communications and online services we are taking to the market directly as well as through our family of resellers.” Ivan Hurwitz, Veritel Australia’s Managing Director, said, "With Veritel increasingly focusing on becoming a dominant supplier of wireless services, we felt that our DSL customers would benefit from the services offered by a company which has successfully been providing and supporting the broadband needs of business customers. Techex is a well respected, award winning Communications Service Provider whom we have known for some time. The fit was perfect."
DES Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
