Hubify snaps up Net Hoster’s telco customer database for Queensland expansion
Hubify snaps up Net Hoster’s telco customer database for Queensland expansion
The database acquisition involves 203 small to medium business customers
Victor Tsaccounis
Credit: Broadland Solutions
Telecommunications provider Hubify, formerly known as United Networks, has acquired Net Hoster's telco customer database for $800,000 in cash in order to expand into Queensland.
Expected to take place on 26 February, the database acquisition involves 203 small to medium business customers from the Queensland-based telco and service provider, with annual recurring revenue of $4,900 per customer to total approximately $1 million.
Additionally, Hubify will also gain offshore resources that will be expanded to reduce its overall back office costs as it continues to grow, according to a statement sent to the Australian Securities Exchange (ASX), although it will not acquire Net Hoster's overseas support team.