Optus Completes Amaysim Acquisition For $250m
Optus has completed its purchase of Australian-owned virtual mobile business amaysim for $250 million, a week after shareholders gave the deal the green light.
Amaysim, which is Australia’s fourth largest mobile provider, will remain a standalone brand under Optus’ ownership.
Commenting on the acquisition, Optus CEO Kelly Bayer Rosmarin said: “This purchase unites two strong challengers in the market, both with cultures centred on delivering the best possible outcome for customers. In ten years, amaysim has built Australia’s largest MVNO through customer growth augmented by its own acquisitions of other brands including Jeenee, Vaya and OVO.”
“amaysim’s brand has resonated with convenience and value-seeking customers in an increasingly competitive market, and Optus will support its continued pursuit of excellence in the MVNO market.”
Optus revealed it had entered into a purchase agreement with amaysim in November 2020 to acquire its mobile business for $250 million.
Consumer watchdog the ACCC stood aside and allowed the takeover in late November, following a painful legal fight against the TPG/Vodafone merger.
Shareholders officially approved the transaction at an EGM on January 21.