Wednesday 10th June 2015 |
Text too small? |
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
No comments yet
Fonterra appoints permanent COO
Manawa Energy FY24 Annual Results & Webcast Details
Seeka Provides the Results of Meeting - ASM
April 19th Morning Report
PGW Guidance Update
CNU - Commerce Commission releases draft expenditure decision
Spark announces departure of Product Director
TGG - T&G appoints new Director
April 18th Morning Report
SKC - APPOINTMENT OF CHIEF EXECUTIVE OFFICER