Telecom NZ has signed a conditional agreement to acquire privately-owned New Zealand IT infrastructure and data center company Revera Limited for NZ$96.5 million ($78.6 million).
The acquisition will add considerable momentum to the long-term growth strategies of Telecom and Revera, improving their capabilities, expanding their market reach and deepening the overall Telecom group offer, Telecomsaidin a statement.
“As previously announced, Telecom is refining its business strategy to become a future-oriented, competitive provider of communication, entertainment and IT services delivered over its networks and the cloud,” said Simon Moutter, Telecom NZ CEO.
“This acquisition adds a respected brand that deepens our IT services portfolio for business customers, particularly with regards to cloud services. Both Gen-i and Revera will be better positioned to respond to evolving customer needs in the areas of big data and cloud computing.”
Upon the completion of the acquisition, the Revera brand will be retained and Revera will continue to run as a standalone business, providing the customers of Gen-i, Telecom’s ICT services division, with immediate access to additional cloud capabilities and data center capacity.
Founded in 2002, Revera has around 140 staff and owns and operates five interconnected Type R data centres in Auckland, Hamilton Wellington, and Christchurch.