Vodafone NZ acquires WorldxChange IP telco business

Vodafone New Zealand, the nation's biggest mobile company, has acquired WorldxChange, adding an internet based telecommunications business with customers including the Reserve Bank, the Earthquake Commission and IAG Insurance.

No price was disclosed. WorldxChange's biggest shareholder, co-founder and chief technology officer Paul Clarkin is among executives at the firm who will join Vodafone, according to a Vodafone statement. He held 70.6 percent of the stock. Other shareholders included chief executive Glenn Johnstone, chief financial officer Mark Stokes and chief operating officer Mike Purchase.

WorldxChange began in 1995 as a local subsidiary of US telco CTS, specialising in toll bypass telephony. It was bought out by management in 2001 and launched New Zealand's " first fully converged IP-based telco network" in 2004, according to its website. It uses the WXC brand.

BusinessDesk.co.nz

Comments from our readers

No comments yet

Add your comment:

Your name:
Your email:	Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Anti-spam verification:

Type the text you see in the image into the field below. You are asked to do this in order to verify that this enquiry is not being performed by an automated process.

Related News:

Skellerup achieves another record result
August 21st Morning Report
Me Today signals capital raise and provides trading update
Seeka Announces Interim Result and Updates Guidance
FBU - Fletcher Building announces FY25 Results
August 20th Morning Report
RUA - New Zealand grown products support Rua's global strategy
Devon Funds Morning Note - 19 August 2025
Seeka Announces 15 cent Dividend
MCY - Major renewable build advanced despite 10% earnings dip