Done deal as Kiwi Internet Provider buys Orcon...
Following months of speculation, CallPlus Group has today confirmed it has purchased ISP Orcon, for an undisclosed fee.
As a result of the deal, Orcon joins CallPlus’ other residential ISPs, Slingshot and Flip, to take the group to 15% market share, with over 220,000 customers.
The privately-owned, New Zealand-based group now has more than 500 staff, and a turnover in excess of $200m.
CallPlus Group CEO Mark Callander says the company now has three challenger brands which appeal to different segments in the market, and the company is strongly positioned to further take on the big boys.
Most importantly, the purchase creates scale that will ultimately deliver benefits to all customers within the CallPlus Group, Callander says.
Callander was quick to add that it is business as usual for Orcon – and there are no intentions to change the brand or its position in the market.
“We have always respected Orcon as a competitor," he adds. "Orcon has a very loyal base of customers which it deserves through its innovation and great services over the years.
"Orcon fits well in our business and appeals to a different market segment than our existing internet brands. We now have something for all New Zealanders.
“Our focus is on enabling further growth and success for the business. Orcon has been a leader in UFB services, and we see a very strong future based on the solid stronghold it has already established.”
Orcon CEO Greg McAlister says the sale sees Orcon in good hands.
“Orcon and CallPlus share a vision of constantly improving New Zealand’s broadband," he adds. "Both companies come from similar can-do Kiwi backgrounds, and it’s great to know Orcon will continue to thrive in years to come."
The deal becomes final July 1.
More updates to follow...