Optus completes acquisition of Amaysim

Optus has completed the $250 million acquisition of Amaysim, Australia’s largest MVNO by subscribers, after Amaysim shareholders approved the deal late last month.

Optus entered a purchase agreement in November to acquire Amaysim’s mobile business as part of the company’s new strategy for the prepaid mobile market. Amaysim shareholders approved the acquisition during a special meeting on 21 January.

With the acquisition, Optus has acquired Amaysim’s 1.2 million mobile subscribers. Optus plans to maintain Amaysim as a standalone brand, but will use the acquisition to better compete against market leader Telstra.

“This purchase unites two strong challengers in the market, both with cultures centred on delivering the best possible outcome for customers,” Optus CEO Kelly Bayer Rosmarin said. She said the acquisition cements Optus’s leadership of the MVNO market.

“In 10 years, Amaysim has built Australia’s largest MVNO through customer growth augmented by its own acquisitions of other brands including Jeenee, Vaya and OVO. Amaysim’s brand has resonated with convenience and value-seeking customers in an increasingly competitive market, and Optus will support its continued pursuit of excellence in the MVNO market,” Bayer Rosmarin added.

“I’d like to thank the teams who have come together and worked tirelessly to bring us to this exciting moment and welcome the Amaysim team into the Optus family.”

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