ASX-listed cloud communications and telco services company Comms Group has acquired Melbourne-based Binary Networks for $1.8 million.
Binary Networks provides telco services to small to medium-sized enterprises (SMEs) via a Layer-2 data network with points of presence in Sydney, Melbourne and Brisbane. It also operates a fixed wireless service in the rural Queensland town of Goondiwindi.
Binary also has engineering capabilities with data networks, advanced voice services and internet protocol (IP).
Comms Group also expands its head office headcount and bolsters its sales capabilities with the addition of Binary Networks’ staff. Binary founder Michael Diamond also joined Comms Group as head of systems and systems integration.
Comms Group buys up Binary Networks for $1.8M
Expands footprint into SME sector.
Peter McGrath (Comms Group) Credit: Supplied
Comms Group has made a foray into the small- to-medium-sized business (SMB) market with the acquisition of Melbourne-based communications service provider Binary Networks.
The $1.8 million deal will see Binary founder Michael Diamond join Comms Group as head of systems and M&A systems integration, through which he will assist with future acquisitions.
According to publicly listed cloud communications provider Comms Group, Binary delivers Layer-2 data network roll-out to the group, with key points of presence in Sydney, Melbourne and Brisbane.
With a particular focus on SMBs, Binary’s purchase is said to further enhance Comms Group s strategy in cementing its footprint in that space, plus delivering its NBN solutions.