Primus Telecommunications Group Inc, a global telecommunications services provider, has announced that its Australian subsidiary has agreed to acquire the internet service and interactive media businesses of AOL/7 Pty Ltd for $18m in cash.
Primus Telecommunications Pty Ltd will acquire 100% of the issued stock of AOL/7, a joint venture between America Online Inc, AAPT Ltd (a unit of the Telecom New Zealand Group), and Seven Network Ltd. The transaction is subject to a regulatory process in Australia and is expected to be consummated by the end of February.
The acquisition will provide Primus with the customer base, content, content development and online advertising businesses, as well as a license for the AOL brand in Australia. It will also add approximately 90,000 customers to Primus Telecom’s existing 400,000 plus internet customer base, and provide an enhanced range of innovative services, products and interactive content.
Primus Telecom is Australia’s fourth largest fixed-line telecommunications carrier with approximately 750,000 retail customers, including over 400,000 internet customers. It offers a range of voice, data, internet and web-hosting products, servicing both residential and business sectors.
Its parent company Primus Telecommunications Group Inc is based in Mclean, Virginia, and offers international and domestic voice, internet, VoIP, data and hosting services to business and residential retail customers and other carriers in the US, Canada, Australia, and Europe.
This article is based on material originally published by ComputerWire