destra acquires Veritel DSL business customers -=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-
MELBOURNE – December 8, 2004 – Wholly owned subsidiary of destra Corporation Limited (ASX:DES), Techex Communications (Techex), has acquired all of Veritel Australia’s broadband DSL customers.
destra’s strategy to offer a one stop shop communications solution was made more compelling with the acquisition of Techex in October. Techex, along with other destra divisions, will undergo a rebrand in 2005, at the same time as the company launches new market initiatives.
The purchase was made using operating cashflow, with Veritel customers bringing an additional $500,000 in revenue to destra Corporation and adding immediate profitability to bottom line.
Domenic Carosa, destra Corporation’s CEO, said,”We are looking to make a number of similar acquisitions over the next few months. We are confident that these will be as successful as the Veritel transaction where we have seamlessly transitioned and integrated all customers within the Techex business environment.”
Vindicating the business model destra is pursuing, the company announced its maiden net profit for the September 2004 quarter and is on target to generate profit for this current financial year.
TPP Internet, in which destra Corporation has a 60 per cent stake, has recently been appointed as the exclusive international domain name registrar for the Solomon Islands (.sb). “TPP was chosen as the exclusive registrar because of its robust platform which already supports tens of thousands of domains. The strategy is to leverage our existing domain technology platform,” concluded Carosa.
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