Eftel picks up rival Platform Networks

Summary:Wholesale aggregator Eftel has announced that it has acquired fellow wholesale provider Platform Networks, less than one month after the arrest of a man in relation to the hacking of Platform Network's systems.

Wholesale aggregator Eftel has announced that it has acquired fellow wholesale provider Platform Networks, less than one month after the arrest of a man in relation to the hacking of Platform Network's systems.

The amount of the deal was not disclosed by Eftel in its announcement to the ASX this morning, but Eftel CEO Scott Stavretis said that Platform Networks brings in $6 million of annual revenue, and that the company now plans to bring new products to Platform Networks' existing offerings.

"We will be continuing the Platform Networks business in its current form, with our priority to release a range of products missing from the current product suite, including mobile telephony and 3G mobile broadband," he said in a statement. "Platform Network customers have expressed a demand for these products, and Eftel has them ready to go."

Both Platform Networks and Eftel have signed up to offer services on the National Broadband Network (NBN), and Stavretis said that the acquisition of Platform Networks will prepare the company to compete on a national level.

"The scale that the Platform Networks business brings cements our place as one of only a few complete wholesale service providers, which has helped gear us towards ensuring we will be an active player in the NBN world," he said.

Last month, a 25-year-old Cowra man was arrested and charged for allegedly compromising the systems of Platform Networks. While the man, who the Australian Federal Police allege to have called himself "Evil", was able to gain access to Platform Networks' systems, the company said it had good security and backup measures in place that both detected the breach and would have been able to quickly restore any systems that could have been altered or damaged in any attack.

Topics: Telcos, Legal

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Armed with a degree in Computer Science and a Masters in Journalism, Josh keeps a close eye on the telecommunications industry, the National Broadband Network, and all the goings on in government IT.

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