M2 earmarks AUD100m as its eyes new acquisition targets

7 Apr 2014

Australia’s M2 Telecommunications is said to have set aside more than AUD100 million (USD93 million) for new acquisition targets this year as it looks to consolidate its position in the market. According to The Australian, M2 CEO Geoff Horth has confirmed that the company is considering a ‘couple of sizeable acquisition opportunities’ as it looks to propel the company into its next phase of growth, with the executive noting: ‘The targets we are looking at now may come to nothing, but we’ve never had more conversations than we are having at the moment … We will not be sitting on our hands waiting to be approached. We are on the front foot to explore opportunities.’ Further, it has been confirmed that M2 will not look to acquire any company that generates less than AUD25 million a year, with it claimed that anything below that figure would be ‘immaterial’ to the group’s growth.

As noted in TeleGeography’s GlobalComms Database, M2 completed two notable purchases, having announced in March 2013 that it would spend a total of AUD248 million on budget broadband operators Dodo and Eftel, while another high-profile acquisition was completed in June 2012, when M2 finalised a deal for Primus Telecommunications Australia.

Australia, Vocus Group (incl. Commander, Dodo, iPrimus)