Maxnet acquired by Australian company for $9.5 million
- 21 May, 2012 22:00
Update 3:30pm: The mystery of what happened to Fyx's "Global Mode" might be explained today, with the revelation that parent company Maxnet has been purchased by Australian ISP Vocus for $9.5 million.
Vocus CEO James Spenceley has told Computerworld that Vocus did not out and out ask Maxnet to pull the plug on the geolock-averting feature, but says in hindsight it was not appropriate to market such a service in the middle of acquisition negotiations.
"I think broadly publicising it in the middle of this transaction wasn't perfect timing. This is why you saw a halt to Global Mode," says Spenceley.
Original story: Local ISP and datacentre provider Maxnet has been acquired by Vocus for NZ$9.5 million, according to statements by both companies.
According to Vocus, Maxnet’s New Zealand operations is expected to bring in NZ$2 million EBITDA in the 2013 financial year.
Vocus is an Australian communications company which provides among other things, datacentre services in Australia. It was founded in 2008 by current CEO James Spenceley.
Spenceley says Maxnet’s established operations in New Zealand, particularly its datacentre in Auckland, will give Vocus a stepping stone for expanded operations in New Zealand.
“The Maxnet acquisition complements Vocus’ strong IP Transit operations in New Zealand. It not only provides Vocus with one of New Zealand’s leading Data Centres but also one of the most established providers of Cloud Services, marking Vocus’ next step into the high growth Cloud market,” says Spenceley.
Maxnet owns recently established ISP Fyx, which launched with much fanfare because of its geolock-averting “Global Mode” feature - before pulling the offer after legal concerns were raised.
A spokesperson for Maxnet says Fyx will be running "business as usual", as it is a part of the acquisition package.
Maxnet says it does not expect job losses as a result of this deal.
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