J2 Global acquired by Over the Wire
McCullough Robertson has advised on Over the Wire Holdings’ acquisition of Australian and New Zealand voice businesses J2 Global Inc.
Firms: McCullough Robertson (Over the Wire Holdings).
Value: $36 million.
Deal: McCullough Robertson has advised on Over the Wire Holdings (ASX: OTX) successful acquisition of J2 Global Inc’s Australian and New Zealand voice businesses; Cloud Connect Pty Ltd and Zintel Communications Limited for $36 million.
Key Players: The McCullough Robertson team consisted of Ben Wood, Reece Walker, Naomi Omundson.
Deal Significance: This strategic acquisition drives Over the Wire Holdings’ expansion into New Zealand and introduces new solution capability to Over the Wire in the areas of inbound telephony services and extends its inbound voice capability and broader service offering.
The deal will give OTW access to J2 Global’s inbound telephony services in Australia and New Zealand, as well as the latter’s $19 million annual revenue.
“This is a highly strategic acquisition for Over the Wire, achieving our plan to acquire a high-quality inbound voice business,” OTW managing director Michael Omeros said.
“This acquisition expedites our geographic expansion plans in New Zealand, as well as extending our inbound voice capability and gives us a stronger foundation for providing a broad range of voice services to our existing customers and the Australian and New Zealand business markets.”
J2’s A/NZ business includes the brands Fonebox and Zintel, counts around 9,000 business customers and employs 80 people across its Sydney head office, Brisbane and Auckland locations.