ispONE assets sold to Melbourne's CONEC2

Melbourne-based CONEC2 Group has acquired the core assets of telecom reseller ispONE, which was last month forced to enter administration after failing to resolve a contract dispute with Telstra.

CONEC2, a group of telecom and IT companies, is taking on all 29 ispONE employees and 61,000 remaining customers. This includes the provision of services to the Aldi Mobile brand through Medion.

Unlike Kogan Mobile, Aldi Mobile survived last month’s termination of Telstra’s reseller contract with ispONE. The contract dispute forced ispONE into administration.

CONEC2 has also acquired ispONE’s iBOSS billing and operational support system (OSS) platform. The group conducted the acquisition through subsidiary AsiaPAC Communications Group.

Financial terms of the acquisition were not disclosed, but administrator Stewart McCallum, a Ferrier Hodgson partner, said the sale had drawn strong interest.

“We extended the expression of interest period to accommodate the large number of parties that came forward,” McCallum said. “Many were credible buyers and the level of interest drove a competitive bidding process.”

CONEC2 Group CEO Cameron Adams said the group had worked with ispONE and its iBOSS platform for some time prior to the acquisition.

“This is an exciting acquisition for CONEC2 and one that will help further drive our business growth, in line with our intentions to market the iBOSS platform widely at both national and  international levels,” he said.

Image courtesy of Victor1558 under CC