Telstra Purple to pay $30m for mining LTE specialist Aqura – Networking – Telco/ISP

Telstra Purple, Telstra’s managed solutions and consulting arm, will pay $30 million in cash for Aqura Systems, a networking and connectivity company utilized by lots of main mining organizations.

Aqura’s owner Veris mentioned in a filing that the acquisition would be done by the stop of February, subject to closing conditions and approvals.

Veris stated it experienced gained “a number of unsolicited approaches” for Aqura, and stated it “believes the sale of Aqura to Telstra Purple signifies a persuasive consequence for all of Veris’ stakeholders, including shareholders”.

“Following the sale of Aqura, Veris will be in a position to retire all financial institution financial debt and be effectively capitalised with a sturdy equilibrium sheet and a sizeable web funds situation,” chair Karl Paganin explained in a statement.

“This equilibrium sheet energy will position Veris in a sturdy position to pursue its progress ambitions for Veris Australia and underpin the continued growth of Veris Australia’s electronic and spatial info-as-a-assistance method.”

Aqura Technologies has deployed LTE remedies for miners which includes Rio Tinto, BHP and FMG.

Maria J. Danford

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