Wednesday, 03 June 2020 11:04

Amaysim inks $15.8 million deal to acquire OVO Mobile subscribers Featured

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Mobile Virtual Network Operator (MVNO) Amaysim is to acquire approximately 77,000 mobile subscribers from OVO Mobile for $15.8 million.

The acquisition from My Mobile Data Pty Ltd - which trades as OVO Mobile - comes with the signing of a binding agreement by the two companies, with the transaction expected to complete “imminently”.

The ASX-listed Amayisim said the acquisition - expected to be earnings accretive - would bring its total subscriber base to 1.17 million.

Amaysim (ASX: AYS) said the acquisition of OVO subscribers accelerates one of the company’s strategic initiatives to grow its recurring mobile subscriber base.

Migration of OVO subscribers to amaysim is expected to complete in less than four months, following the recent migration of 41,000 Jeenee subscribers in less than three months.

amaysim’s Chief Executive Officer and Managing Director, Peter O’Connell said, “The acquisition of OVO Mobile’s subscribers is further evidence of the execution of our strategic initiative to grow the recurring mobile subscriber base, both organically and through bolt-on acquisitions.

“Under our asset-light operating structure, we are able to scale the subscriber base with no, or nominal, additional resources, delivering positive future earnings from the acquired base.

“Having completed the integration of Jeenee Mobile in less than three months, we have the skills and experience to accomplish an efficient and successful migration and we look forward to welcoming OVO customers to the amaysim family.

“We have been pleased with how our business has performed in the second half of the financial year, despite the current challenges facing the economy, and we’re delighted to be able to report that we are on track to achieve our FY2020 underlying EBITDA guidance.”


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Peter Dinham

Peter Dinham - retired and is a "volunteer" writer for iTWire. He is a veteran journalist and corporate communications consultant. He has worked as a journalist in all forms of media – newspapers/magazines, radio, television, press agency and now, online – including with the Canberra Times, The Examiner (Tasmania), the ABC and AAP-Reuters. As a freelance journalist he also had articles published in Australian and overseas magazines. He worked in the corporate communications/public relations sector, in-house with an airline, and as a senior executive in Australia of the world’s largest communications consultancy, Burson-Marsteller. He also ran his own communications consultancy and was a co-founder in Australia of the global photographic agency, the Image Bank (now Getty Images).

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