CallPlus expands after Orcon buy
CallPlus has confirmed it has bought internet provider Orcon.
The sale price was not disclosed. Sources previously forecast the company would sell for about $30 million.
CallPlus said the takeover would mean it had 220,000 internet customers, representing 15 per cent of the market, as well as 500 staff and an annual turnover of more than $200m.
Chief executive Mark Callander said CallPlus now had "three challenger brands", Slingshot, Flip and Orcon, that would appeal to different segments of the broadband market and was well-positioned to "further take on the big boys".
The purchase created "scale" that would ultimately deliver benefits to all customers within the CallPlus group, he said. The takeover will be completed on July 1.