M2 Group Ltd was an Australian retailer and wholesaler of telecommunications services as well as power, gas and insurance products.
 | |
| Company type | Public |
|---|---|
| ASX: MTU | |
| ISIN | AU000000MTU6 |
| Industry | Telecommunications |
| Founded | 1999 by Vaughan Bowen |
| Defunct | February 5, 2016 |
| Fate | Merged with Vocus Communications |
| Headquarters | Melbourne, Australia |
Area served | Australia, New Zealand |
Key people | Geoff Horth (Chief Executive Officer) Scott Carter (Chief Operating Officer) Darryl Inns (Chief Financial Officer) |
| Products | Wholesale & Retail Telecommunications, Power and Gas, Insurance |
| Revenue |  A$1.12 billion (FY15) |
Number of employees | 3300 FTE (2015) |
| Website | www |
On 5 February 2016, M2 Group Ltd merged into Vocus Communications.
History edit
Established in 1999, M2 Group Ltd (“M2”, ASX: MTU) was a provider of a range of communication, utility and insurance services to Australian households and small businesses. Headquartered in Melbourne, M2 had more than 3000 employees in Australia, New Zealand and the Philippines. At M2's 2013 Annual General Meeting, shareholders voted to change the company's name from M2 Telecommunications Group Ltd to M2 Group Ltd.[1]
M2's business segment included the Commander and Engin brands, offering a suite of traditional and managed voice and data services and equipment.
Consumer division edit
The consumer segment, under the brands of Dodo and iPrimus, offered Australian consumers telecommunications services, energy and insurance
Wholesale division edit
Through the M2 Wholesale division, the firm provides wholesale fixed line, mobile and data telecommunications services to small and medium-sized telecommunications service providers and Internet Service Providers.
M2 was named by BRW Magazine as one of Australia's 100 fastest-growing companies five times between 2003 - 2008, and in the Deloitte Technology Fast 50 eight times between 2004 and 2013.[2]
Acquisitions edit
The company had made several acquisitions, and maintained a diverse portfolio of brands across a range of market segments.
- In 2005, it acquired Protel Communications, a small provider of broadband and telephony services[citation needed].
- In 2007, it acquired Wholesale Communications Group,[3] Tenex,[4] Southern Cross Telecommunications[citation needed] and Orion Telecommunications.[5]
- In 2008, it acquired Unitel Pty Ltd and agreed to purchase People Telecom.[6]
- In 2009, M2 acquired selected strategic assets of Commander Communications.[7]
- In 2012, M2 acquired Primus Telecommunications for $192 million.[8]
- In 2013, the company announced its planned acquisition of Dodo for $204 million,[9] and Eftel (which included the aaNet, Engin and ClubTelco brands) for $44 million.[10]
- In 2015, M2 acquired CallPlus and 2Talk for NZD$250 Million.[11]
Merger edit
On 28 September 2015, it was reported that M2 Group and Vocus Communications would merge to create the 3rd largest and 4th largest telecom company in New Zealand and Australia respectively. The resulting company was estimated to be worth US$1.4 billion.[12] After the completion of the merger, M2 CEO Geoff Horth will remain the Chief Executive of the successor group and M2 shareholders will gain a 56% ownership of the new entity.[13] As of 5 February 2016, M2 Group Ltd and Vocus Communications Limited obtained the final court approval to proceed with the merger of the two companies[14] and now trades on the ASX under Vocus.[15]
References edit
- ^ "Investors | Vocus Group" (PDF).
- ^ "Deloitte | Technology Fast 50: 2012 Winners' Report". Archived from the original on 9 March 2013. Retrieved 11 August 2012.
- ^ "Acquisition of WCG". iTWire. Archived from the original on 2 December 2008.
- ^ "M2 completes acquisition of Tenex". M2 Telecommunications. Archived from the original on 19 July 2008.
- ^ "M2 Telecommunications to buy Orion". Wireless Federation.
- ^ "M2 agrees to acquire People Telecom" (PDF). ASX.
- ^ "M2 buys Commander SMB unit in 'strategic coup'". Fairfax.
- ^ "M2 buys Primus". Fairfax.
- ^ "M2 buys Dodo, launches takeover bid for Eftel". Fairfax.
- ^ "M2 closes Eftel offer". Computerworld.
- ^ "M2 to Acquire Call Plus Group & 2Talk" (PDF).
- ^ Stewart, Robb M. "Vocus, M2 Group Plan Merger", Wall Street Journal, 27 September 2015. Accessed 3 February 2016.
- ^ Ryan, Holly. "M2 merger to create NZ's 3rd biggest telco", NZ Herald, 28 September 2015. Accessed 3 February 2016.
- ^ "Vocus and M2 Merger Approved · Vocus Communications". 28 February 2017. Retrieved 28 February 2017.
- ^ "Investors | Vocus Communications". www.vocus.com.au. Archived from the original on 10 September 2015.