Freshtel To Swallow Rival
In a deal said to be worth millions of dollars, ASX-listed telecommunications and cloud services operator Freshtel has agreed to acquire a major rival, namely Field Solutions Group (FSG).
FSG provides private cloud hosting and generic cloud hosting services, via its nationwide IP network, primarily in regional Australian areas. The services include infrastructure-as-a-service, private data networks, and voice over Internet protocol (VoIP) services.
If the deal is approved by shareholders, Freshtel says it plans to expand the regional network and provide cloud-based software and services to SMEs and government clients. It will also rename itself Field Solutions Holdings.