Amcom shareholders approve IP Systems buy

Shareholders in Amcom Telecom (ASX:AMM) have approved the company’s proposed acquisition of IP fibre network operator IP Systems for an initial consideration of $5.3 million.

Amcom CEO Clive Stein said the acquisition would add around $12 million in revenue to the company’s business, and should be EPS accretive within the first full year of ownership.

“This is an exciting strategic acquisition for Amcom,” he said. “It will enable us to capture a greater share of our customers’ IT spend and [give us] a national presence with an office in most major capital cities.”