Tomizone Ltd (ASX:TOM) has signed an agreement to acquire the New Zealand-based telecommunications and managed services company Bluesky Online Services Limited.
Tomizone is a managed services provider of WiFi based connectivity, analytics, and location based services to enterprises, retailers, brands and public venues.
Bluesky is a well-established, cash flow positive and profitable company with over 350 enterprise, corporate, business and medical customers.
The acquisition will be completed using a combination of cash and shares, made up of $142,500 in cash and 6.67 million Tomizone shares.
Bluesky’s product range spreads out to VoIP (Voice over Internet Protocol), wireless network services, data security, cloud-based technology solutions and data centre operations.
The acquisition builds on Tomizone’s existing network of over 2,000 data access points across Australia and New Zealand.
Bluesky has focused on the medical and corporate sector and has a significant base where Tomizone’s WiFi services can be expanded and installed.
The post-acquisition synergies are aimed at providing a positive revenue contribution to Tomizone with an ongoing reliable and recurring revenue stream and a positive EBITDA of circa $400,000.
Importantly, the acquisition is part of Tomizone’s growth strategy with a focus to drive growth in distribution, customer base and to strengthen revenue streams.