Vocus completes E3 data centre purchase

Vocus completes E3 data centre purchase

Vocus Communications (ASX:VOC) has completed the $5.9 million acquisition of the data centre businesses of E3 Networks.

Vocus paid $5.9 million for the assets, including $4.9 million in cash and $1 million in Vocus shares, in an acquisition first announced last month.

E3's founder and CEO, John Eaves, has now taken on the position as general manager of Vocus' data centre division, where he will assume responsibility for the management and expansion of the unit.

The deal, for two existing facilities each constructed in the last two years, will complement a new 400 square meter facility Vocus plans to launch in December.

Vocus reiterated its forecast that the acquired assets will add at least $1.5 million in pre-tax profit to the company's bottom line.

Vocus was acquired acquired by First Opportunity Fund in a reverse-takeover in April, and listed in July through a name change.

In September, the company revealed it was expecting to grow both organically and through acquisitions in FY11.

Vocus is primarily a wholesale telecom services provider, and in September launched Australia-New Zealand internet peering exchange PacificIX.

VOC shares grew 6.56% to $1.30 during Monday's trading. Its share price has grown by nearly a dollar since its initial listing.

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Tags Mergers and acquisitionsVocusE3 NetworksASX:VOC

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