Australia's Amaysim buys Vaya for $50m

06 Jan 2016
00:00
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Daily News

Australian mobile service reseller Amaysim Australia has acquired Brisbane-based MVNO Vaya in a deal worth A$70 million ($50 million).

The A$70 million purchase will be paid from a combination of A$5 million cash, A$15 million in Amaysim shares and require Amaysim to take on A$50 million of debt to Optus, the carrier network for both Amaysim and Vaya, according to a statement Amaysim filed to the Australian Securities Exchange.

Amaysim has more than 718,000 customers using the Singtel-Optus network.

Vaya, like Amaysim, utilizes the Optus 4G Plus network and has a strong presence in the sub-A$20 market segment in Australia with 140,000 subscribers. The majority of Vaya customers are on the $18 monthly offering, Amaysim said.

“Vaya’s online-only, strong market offering in the sub-$20 market segment complements Amaysim’s ‘customer champion’ position and creates greater scale to our online-driven platform and operating network,” Amaysim chief executive Julian Ogrin said.

“This is a rare opportunity to significantly grow our number of subscribers on the same network and in a complementary market segment.”

Amaysim will continue to operate Vaya as a separate brand and the acquisition will enable the combined business to access new markets, increase scale and drive operational leverage, the company said.

Founded in 2011, Vaya operates its business 100% online with no retail presence. The company has 40 employees, in Brisbane as well as its Philippines customer service center and Indian outsourced service center.

Amaysim said the company sees “Vaya’s Philippines service center as a great opportunity to create an overflow capacity for Amaysim and to fast-track our platform, web and app development.”

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