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Hostech name change given the greenlight

Hostech name change given the greenlight

Sharehoilders approve brand change from Anittel

ASX-listed IT and telecommunications integrator, Hostech (ASX:HTC), has received shareholder approval to change the branding to Anittel at its annual general meeting (AGM).

The company’s ASX code will change to AYG next week.

In February, Hostech brought together Anittel, Accord Technologies, Axxis Technology and Aspirence to create an SMB services and hosting powerhouse.

It acquired D2K’s customer base in Townsville for a cash consideration of $90,000 in August.

“The name will create less confusion in the marketplace with all the brand names,” Hostech chairman, Peter Kazacos, said.

At the AGM, the integrator addressed a softening of hardware and software sales in Tasmania this financial year due to uncertainty caused by the prolonged Federal Election.

Hostech does a significant amount of work in the government sector in the state. Sales have since rebounded.

It is set to capitalise on some market trends, the main being cloud computing.

“The fact we are a carrier, we have the ability to move things into the cloud for customers and be accountable for both the IT and communications,” Kazacos said. “It’s a significant trend and the investment the government is making in National Broadband Network (NBN) will provide even more capability in more remote areas that don’t have good connectivity at the moment.”

Hostech is looking for more acquisition opportunities but would not discuss the details of future acquisition plans.

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Tags cloud computingHostechAnittelPeter Kazacos

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