Melbourne telco Binary Networks acquired by Comms Group
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ASX-listed cloud communications and telco services company Comms Group has acquired Melbourne-based Binary Networks for $1.8 million.
Binary Networks provides telco services to small to medium-sized enterprises (SMEs) via a Layer-2 data network with points of presence in Sydney, Melbourne and Brisbane. It also operates a fixed wireless service in the rural Queensland town of Goondiwindi.
Binary also has engineering capabilities with data networks, advanced voice services and internet protocol (IP).
Comms Group also expands its head office headcount and bolsters its sales capabilities with the addition of Binary Networks’ staff. Binary founder Michael Diamond also joined Comms Group as head of systems and systems integration.
“We are pleased to welcome Binary Networks to the Comms Group business. The acquisition of Binary Networks will assist the group to modernise our systems, automate key processes and add on-line ordering and automation of delivery of certain key products including data and IP voice services,” Comms Group managing director Peter McGrath said.
“This will speed up the organic sales and sales ordering and assist with growth in
our gross margins and thus longer-term earnings. We also welcome the founder of Binary
Networks, Michael Diamond to our group.”
Speaking on the acquisition, Diamond said, “I’m very excited to become part of this
new dynamic business group. We decided to join Comms Group to be part of this growth
journey and bring to the group our great technology and data networks that I’m so proud of.
“I am pleased to be joining as the head of systems and systems integration and look forward to working closely with the team.”Got a news tip for our journalists? Share it with us anonymously here.
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