Zintel buys Commspec
- 28 May, 2008 22:00
Telecommunications services provider Zintel has acquired the business assets of Commspec from Downer EDI Engineering. Commspec is a reseller of Alcatel-Lucent and Samsung products.
In a statement on the NZX website, Zintel CEO Peter Revell says “The Commspec business has considerable potential in key verticals such as hospitality and retail.
“We will need to invest in the business from the outset to realise this potential and although not currently profitable, we expect this business will create medium- to long-term growth benefits for Zintel”, Revell says.
The Commespec brand will be retained.
On May 8, Zintel told the sharemarket Aastra Technologies, of Canada, had completed its previously announced acquisition of the Enterprise Communication Business from Ericsson Sweden.
Zintel had been the sole distributor for Ericsson Enterprise in New Zealand. However, it told the market, the company had recently learned that Ericsson had appointed a second distributor for the Business Phone (BP) in the South Island.
"Whilst this is disappointing and we had no prior knowledge of the appointment, BP represents only a small part of our sales. We are focussed more on the high end MX- One product suite most suited to corporate and government," chairman Nick Gordon said in a statement.
"Zintel's distribution agreement, which has now been assigned to Aastra, runs through to November 2008 and we are currently in discussions to renew for a further term."
Downer EDI Engineering’s sale of Commspec is in contrast to its recent purchase of Astute, a subsidiary of telecomms services provider Cabletalk.