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Hostech acquires Anittel
[April 21, 2010]

Hostech acquires Anittel

Apr 21, 2010 (Datamonitor Financial Deals Tracker via COMTEX) -- Hostech Limited (formerly Mobi Limited), an internet protocol business telephony company and business phone installer, has acquired Anittel Limited, a full-service IT and telecommunication services company, for AUD2.5 million ($2.17 million). Both the companies are based in Australia.

Announcement (February 10, 2010): Hostech has entered into an agreement to acquire Anittel.

In addition, Hostech has also agreed to acquire Accord Technologies Pty., Ltd., AXXIS Pty., Ltd. and Aspirence Pty., Ltd.


As part of the consideration, Hostech will pay for the four companies a total of AUD6.9 million ($6 million) in cash, issue 304.92 million shares for AUD6.75 million ($5.87 million) and take AUD3.4 million ($2.95 million) in debt through a convertible note.

Deal Value (US$ Million) 2.17 Deal Type Acquisition Sub-Category Majority Acquisition Deal Status Completed: 2010-04-20 Deal Participants Target (Company) Anittel Pty., Ltd. (formerly PKBA) Acquirer (Company) Hostech Limited (formerly Mobi Limited) Deal Rationale The acquisitions represent a major strategic milestone in the transformation of Hostech into an IT and telecommunications service provider to small and medium businesses around Australia. The acquisitions complement the existing Hostech business and add scale to its existing portfolio of assets servicing small to medium businesses.

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