Telstra buys O2 Networks for $60 million
Telstra has acquired cloud company O2 Networks in a deal that is worth $60 million. O2 Networks has 370 customers and 100 staff members across a range of financial institutions in Australia. O2 and Telstra have been partners for a while now so the combination of both companies made sense.
“As our customers shift towards cloud-based environments, they increasingly require capabilities to securely integrate networks, data centers and cloud-based applications,” stated Telstra’s Network Applications and Services Executive Director Michelle Bendschneider.“O2 significantly enhances this capability within Telstra’s NAS portfolio and this acquisition is consistent with our strategy of providing advanced network-based services that are highly valued by our customers.”