Small to medium business telecommunications reseller M2 has acquired a slice of Clever Communications for $5 million as it continues to slim down its operations team.
M2 acquired Clever Communications' reseller component of the business, which has added around three staff to M2's headcount of 450, according to M2 boss, Vaughan Bowen.
Bowen said the buy should deliver it "anything up to $2.5 million" in revenues per year.
Clever had been reselling Optus, Telstra and AAPT wholesale-bought services to SMEs, which M2 will now take over.
Bowen said that just 10 per cent of its customers were on its own network, while the majority of its customer base bought mobile and landline services.
It does, however, place larger business grade data customers on the network it acquired through the acquisition of People Telecom and Commander's OneStream business.
The asset sale is expected to be completed on 1 May.