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M2 closes $5m Clever Communications buy

M2 closes $5m Clever Communications buy

M2 Telecommunications Group (ASX:MTU) has closed the acquisition of Clever Communications assets for $5 million.

The company has paid $3.75 million of the $5 million purchase price for the assets, with the remainder due within six months.

The assets acquired include Clever’s off-net fixed, mobile, data and VPN SMB customer contracts, as well as the property and equipment used to service said customers.

M2 will be entitled to use the Clever brand for an unspecified transitional period.

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Tags Mergers and acquisitionsTelecommunicationsClever CommunicationsM2

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