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Vonex finalises acquisition of Sydney-based Nextel

ASX-listed telco services provider Vonex has finalised its acquisition of Sydney-based NBN reseller and NEC partner Nextel.

Vonex first announced the acquisition on 18 December 2020 (pdf), with the total consideration set at $1.58 million.

Vonex said acquiring Nextel would allow for cross-selling and product expansion opportunities, while also growing its own customer base, carrier relationships and its New South Wales presence.

Nextel specialises in the design, installation and maintenance of voice, data and communications networks. It is also a single-source provider to small-to-medium enterprise (SME) businesses, offering services like rolling out wireless, fibre and RFID networks, delivering structured cabling, telephony systems and electrical fit outs to large-scale projects.

“Acquiring Nextel’s well-established operations will be instantly accretive to Vonex’s customer base, carrier relationships, recurring revenue and earnings,” Vonex managing director Matt Fahey said.

“Nextel will empower Vonex to drive value for our wholesale and retail customers through new products and expertise, and it provides us with a highly capable team on the ground through whom we can capitalise on tremendous growth opportunities in the Sydney and wider NSW market.

“We look forward to rapidly integrating Nextel’s operations into Vonex’s fast-growing existing business.”