ACCC not to oppose Nextgen acquisition
Posted on September 22, 2016
The momentum behind our goal to become a telco powerhouse was boosted today with the Australian Competition and Consumer Commission (ACCC) advising, after stringent review, that it did not oppose our acquisition of Nextgen Networks.
Geoff Horth, CEO of Vocus said, “We are extremely pleased with the announcement from the ACCC and will move as quickly as possible to close the transaction and integrate the business under the Vocus umbrella. We will be working to ensure that we leverage the benefits of our expanded infrastructure platform and increased scale across our customer base.
“We look forward to welcoming the Nextgen team into Vocus as we move into the next exciting phase of growth in the business.”
The acquisition remains subject to further conditions. The Company will work with the various stakeholders to meet these conditions and currently anticipates completing the transaction in October 2016.