Telstra (ASX:TLS) has acquired video conferencing and collaboration company iVision to boost its IP video services portfolio.
The telecom operator said it will integrate iVision's design, deployment and monitoring capabilities into its video conferencing and collaboration portfolio.
iVision's current managing director and owner, Graham Williams, will continue to lead the business after the acquisition.
Telstra CEO David Thodey said the merger had been planned to capitalise on the “explosive growth” in video across IP networks.
“Organisations are adopting richer formats of communication to work and collaborate more effectively, both internally and with their customers and partners,” he said.
He said he expected the deal to make Telstra the top provider of video conferencing services in Australia and one of the three largest in Asia.
Financial terms of the deal were not disclosed.
TLS shares fell 0.71% during Monday's trading to $2.830.