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Firms give voice to $9.1m takeover
Internet and telecommunications provider Eftel is set to acquire Engin, a leading Voiceover Internet Protocol (VoIP) network.
Digital
Firms: Addisons Lawyers (Eftel Limited); Herbert Smith Freehills (vendor, Seven Group Holdings)
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Deal: Acquisition of Engin, a leading Voiceover Internet Protocol (VoIP) network by internet and telecommunications provider Eftel
Area: M&A
Value: Total consideration of $9.1 million
Key players: Senior associate Kristy Dixon handled the deal for Eftel at Addisons
Deal significance: The acquisition sees Eftel acquire all of Engin’s business, including customer contracts and intellectual property. Engin established the first commercially available VoIP network in Australia in 2004 and has extensive technical skills in IP voice technologies. Eftel sees VoIP being the solution used to deliver traditional fixed-line voice calls as the National Broadband network rolls out. “While the huge deals may have gone quiet, we are seeing that the mid-market is still quite active,” said Laura Hartley, joint managing partner at Addisons.
“This deal highlights not only Addisons continuing work in mid-market M&A but also our focus on advising consumer-facing businesses of all types.”
