Menu
Vonex moves into SA with $2.75M Voiteck purchase

Vonex moves into SA with $2.75M Voiteck purchase

The acquisition brings a significant recurring revenue boost and more than 10,000 PBX users.

Comments
Matt Fahey (Vonex).

Matt Fahey (Vonex).

Credit: Vonex

Publicly listed telco Vonex has expanded its presence in South Australia by purchasing voice and internet services provider Voiteck for $2.75 million. 

Vonex managing director Matt Fahey said acquiring Voiteck fitted within its established merger and acquisition strategy, which focuses on geographic expansion, product enhancement and new customer growth. 

“In terms of engineering skillset and technical capabilities, we view Voiteck as an emerging version of Vonex,” he said. “Voiteck’s established presence across several niche verticals and strong standing in the SA market bring us into a new geographic region, which presents exciting growth opportunities.”

The acquisition also brings a significant recurring revenue boost, with group annual recurring revenue (ARR) post completion of approximately $34.5 million, Fahey added. 

Voiteck founder and managing director Declan O’Callaghan will be staying on with Vonex post-acquisition and said the business is closely aligned with Vonex in terms of valued clients, teams and end-users. 

“It’ll be business as usual except with more efficiency, better systems and faster services,” he said. 

Since its founding in Adelaide in 2009, Voiteck has accrued more than 1,000 customers in markets such as aged care and community clubs, and will bring more than 10,000 PBX users, taking Vonex’s total PBX users to more than 90,000 post transaction. 

Customers include LJ Hooker, RayWhite, Harris, Rugby Union SA, RSA, SATAC and Clarke Energy. 

The transaction involves $2.2 million in cash and $550,000 in escrowed shares. 

In June, Vonex bought part of the direct business of MNF Group (now Symbio) for $31 million.


Follow Us

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Tags VonexVoiteck

Events

ARN Innovation Awards 2022

Innovation Awards is the market-leading awards program for celebrating ecosystem innovation and excellence across the technology sector in Australia.

EDGE 2022

EDGE is the leading technology conference for business leaders in Australia and New Zealand, built on the foundations of collaboration, education and advancement.

Show Comments