Victor Tsaccounis (United Networks)
Publicly listed telco provider United Networks has undertaken its fourth acquisition over the past year, buying the assets of C3 Innovations, a specialised service provider of enterprise unified communications and hosted and managed data solutions.
With its headquarters in North Sydney, C3 Innovations also has offices in Melbourne and Brisbane, along with a presence in the UK, Singapore and Japan, and claims the likes of Cisco, Aruba, Polycom and Hewlett Packard Enterprise (HPE) among its vendor partners.
The deal sees United Networks snap up the customer database of C3 Innovations, along with the rest of the acquisition target’s assets.
The terms of the acquisition consist of a $250,000 cash payment, the issue of 3.75 million shares in United Networks and a 12-month pre-tax earnings (EBIT) performance bonus payment of $25,000 if the forecast is achieved.
“We expect to build on our acquisition momentum and make further positive announcements over the next two quarters,” United networks CEO Victor Tsaccounis said. “C3 Innovations aligns strongly with our focus on increasing the recurring revenue of the business through both strategic acquisitions and organic growth.
“The business allows us to leverage our systems know-how and scale to generate further earnings to the bottom line,” he added.
In September last year, United Networks announced it had entered into an agreement to acquire Broadland Group, owner of Broadland Solutions and Broadland Victoria.
That deal saw then Broadland managing director Tsaccounis named CEO of the combined entity, post-acquisition, while Nick Ghattas, former CEO of United Networks, was appointed chief operating officer.
