CallPlus expands after Orcon buy

TOM PULLAR-STRECKER
Last updated 16:55 20/06/2014

Relevant offers

Industries

Big Oil eyes public pressure as banned crude export solution Alex Swney pleads guilty to defrauding Heart of the City Rio Tinto reveals surprise 12pc export drop The dangers of deep sea oil drilling: NZ’s shocking safety record revealed Chinese banking giant breaches Reserve Bank rules BMW cuts production in China Dirt, arsenic and lead polluting air in industrial Christchurch High returns unsustainable after solid March quarter Tower strengthens its Canterbury rebuild reinsurance cover RB rate seen on hold with annual inflation just 0.1 per cent

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. 

Ad Feedback

- Stuff

Special offers

Featured Promotions

Sponsored Content