Cabletalk buys out successful startup

Cabletalk buys out successful startup

NEW Zealand’s Cabletalk Group has purchased Auckland-based Fortlock Security but there are no immediate plans to merge the companies.

Cabletalk Group specialises in tele-communications systems planning, installation, maintenance and restoration through its two subsidiaries, Cabletalk and Astute.

Managing director Peter Wilson says his company had been looking to make an acquisition for the last year but took its time finding the right business.

“Fortlock is very complementary in terms of people, premises and processes. For the foreseeable future we will run it as a separate business,” he says.

Prior to the acquisition Fortlock was one of the country’s largest privately owned electronic security and surveillance systems companies.

Founded by Stuart Monteith in 1988, the business started life as a small locksmith shop before moving into electronic security, communications software and hardware market.

Wilson says the businesses share core competencies in terms of utilising call centre technologies to provide rapid technical support.

“Cabletalk is able to provide the resource and backup required for Fortlock to expand beyond Auckland through our national network.”

He believes electronic security is a fast-growing area and says Cabletalk will continue to expand into this area both through growth and acquisition.

“We’re still looking at other businesses - this is only the first step on the path.”

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