Sydney prison phone system sold to German provider
Squire Patton Boggs has advised on the sale of a Sydney-based prison phone system to a German provider.
Firm: Squire Patton Boggs (Comsec TR)
Deal: Squire Patton Boggs (SPB) and corporate advisers BDO has brokered the sale of Sydney-based prison phone systems provider Comsec TR to Telio.
Value: Undisclosed.
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Area: M&A.
Key players: The SPB team was led by Perth managing partner Tony Chong and was assisted by associates Blair Strickland and Alix Poole.
Deal significance: Comsec was founded in 1991 and provided prison phone systems across the country. The investment marks Telio’s first acquisition in the Asia-Pacific region as it expands beyond its Europe, Middle East and Africa footprint.
Mr Chong said: “The deal teams worked together closely to deliver this transaction and we look forward to a new chapter for a very successful organisation as it moves into this new phase.”
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