Australian telco services provider M2 Telecommunications and its New Zealand subsidiary (M2 NZ Limited) have announced the buyout of Black + White.

The company has also appointed a New Zealand CEO, Jonathan Eele, who will lead the local charge.

Assets picked up in the buyout include all Black + White customer contracts, all operating systems and all associated intellectual property, including the Black + White brand.

M2NZ will receive a boost in personal and both the M2 and Black + White brand will continue to be promoted and expanded across New Zealand.

M2 Managing Director Vaughan Bowen said, “We have recognised for some time that for M2 to develop the similarly positive growth to that achieved in Australia over recent years that greater scale and strong vested local management were key requirements.

Bowen added that the extra scale and support that comes from bringing together the two companies, creates the ideal platform for a marked expansion in New Zealand over the coming years.