Telecommunications giant Telstra has announced the takeover of Melbourne-based systems integration, network and security consulting firm O2 Networks.
The deal will see Telstra gain 100 staff from O2, along with a customer base of 370 clients, including major financial institutions and government enterprises.
The investment sees the incumbent telco continue its shift in focus towards cloud-based network applications and services.
The deal comes a little over a week after Telstra announced the sale of a 70% stake in its Sensis directory advertising business to US-based private equity firm Platinum Equity for $454 million.
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Meanwhile, in December of last year, Telstra announced the sale of its Hong Kong based mobiles business, CSL, to HKT Limited for $US2.425 billion.
The decision to purchase O2 comes after Telstra announced the takeover of NSC Group, a provider of contact centre and integrated comms equipment, in August of last year.
In a statement, Telstra’s Network Applications and Services (NAS) executive director Michelle Bendschneider identifies a growing need to help customers securely integrate networks and cloud-based services.
“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.
“O2 have a reputation for deep-domain expertise and speed to market with emerging technologies including wireless network integration and next generation security threat detection and mitigation solutions.
“Following our recent acquisition of NSC Group, we continue to invest in capabilities that improve the efficiency of our customers’ businesses and enhance the way they serve their own customers.”