Vocus expands data centre business with acquisition of EDC
Posted on February 13, 2015
Vocus Communications Limited (ASX:VOC) is pleased to announce it has entered into agreements to acquire the two data centres and business continuity operations of Enterprise Data Corporation (EDC).
This acquisition represents an attractive opportunity to acquire a well-established business with a diverse contracted customer base across two Data Centres (DC) and add complementary Business Continuity Services (BC) to Vocus' suite of solutions to corporate customers in Australia.
The two Data Centres are located in Norwest in Sydney and Mitcham in Melbourne with both offering capacity for additional growth.
The purchase price is $23.5m and will be funded from existing cash resources. The acquisition is subject to normal conditions and is forecast to generate annualised EBITDA of approximately $4.7m.
Vocus CEO, James Spenceley said, "The acquisition complements our existing business by adding two high quality data centres to the nine Vocus data centres located across Australia and New Zealand. The BC business is a logical service extension to the current range of services offered to data centre customers."
"The data centres have many long-term customers and will provide Vocus with cross selling opportunities and further redundancy for existing customers."