2degrees is acquiring MyRepublic NZ's broadband base as the internet service provider exits the New Zealand market.
2degrees said the deal would ensure continuity of services to MyRepublic customers.
Preparations for the migration to 2degrees would start over the coming weeks and customers would be kept fully informed of the process, the telco said.
“We believe MyRepublic customers will be very happy with the service and look forward to welcoming them to 2degrees," said 2degrees CEO Mark Callander.
"The companies share a similar challenger ethos, a focus on customer service, and have been at the forefront of delivering fibre and Hyperfibre services in New Zealand for many years.”
Those mobile customers are not affected by the change.
MyRepublic NZ's latest filed accounts, for the year to 30 June, 2021, reported revenue of $25.9 million, up from $22.5 million in 2020.
2degrees reported $756.6 million in revenue in the year to 31 December 2021, its last full year reported.
MyRepublic customers were told of the change today, Callander said, and migrations would happen over two-months starting in August.
2degrees had undertaken a few similar customer migrations, he said, so it knew how important it was to focus on the customers and ensure their services were not interrupted.
Malcolm Rodrigues, Group CEO and co-founder of MyRepublic, said the telco decided to exit the New Zealand broadband market after almost nine years in order to focus on its Asia business.
“I love our New Zealand business," he said. "The amazing work that the team has done for MyRepublic over nearly nine years has been a personal point of pride for me, with a number of industry firsts to shake up the NZ broadband market."
After much deliberation however, MyRepublic had decided to focus on its Asian business.
“We are thankful for all the support our customers in New Zealand have shown us. With 2degrees’ network infrastructure and scale of operations, we are confident that customers transitioning will be in good hands.”
MyRepublic similarly bailed out of the Australian market in January.