Telecom service provider M2 Telecom (ASX:MTU) has announced that its subsidiary People Telecom has arranged to acquire assets from Bell Networks Voice and Data for around $4 million.
M2 will pay cash for the acquisition of the SMB customer contracts of Bell Networks, as well as the assets required to operate and expand the business.
The company estimates that the assets will contribute around $13 million annually in recurring customer revenues, and an annual ebitda of over $2 million.
Bell will be entitled to additional payments if the assets meet certain performance targets, M2 said.
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