New Zealand-based datacentre and cloud provider Maxnet has been acquired by Vocus Communications.
“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," says James Spenceley, CEO of Vocus.
According to Douglas Kemsley, Maxnet’s outgoing Chairman, "this is very good news for Maxnet’s clients and the broader New Zealand marketplace". "Our wide range of quality datacentres and cloud services will be further strengthened by this acquisition. Vocus is the ideal company to take Maxnet to the next level," he adds.
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.