Telecom New Zealand is purchasing privately-held data center provider Revera for NZD 96.5 million (USD 82.5 million) as a way to deepen its foothold in the cloud and data center service segments.
Under the terms of the agreement, Revera will retain its brand and be run as a separate business, providing additional cloud and data center services to Telecom New Zealand's Gen-i services unit.
"This acquisition adds a respected brand that deepens our IT services portfolio for business customers, particularly with regards to Cloud services," said Simon Moutter, Telecom New Zealand's CEO, in a release about the acquisition. "Both Gen-i and Revera will be better positioned to respond to evolving customer needs in the areas of big data and cloud computing."
When the deal is complete, the two companies will look for ways to develop combined offerings for both of their respective customer bases.
Both companies bring a number of elements to their offerings for New Zealand businesses. For one, they will have a broader base of data centers. Revera opened its fifth data center last year in Upper Hutt's Alexander Industrial Park, Wellington, which Gen-i can leverage to deliver new cloud services.
At the same time, Revera will gain investment, growth and development in its core platforms and its cloud-focused service offerings, additional capacity in Auckland, and broader sales reach.
Telecom New Zealand said it expects the acquisition to be completed in May.
For more:
- see the release
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