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Date: Mon, 1 Nov 2004 11:46:23 +1300
From: Craig Hoskin
To: aussie-isp
Message-Id: <0B7B17743FE15044BC1B034079F8868524030F@gateway.infobahnz.local>
Subject: [Oz-ISP] S P TELEMEDIA ANNOUNCES ACQUISITION OF COMINDICO
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<FDC30A85-2BAB-11D9-B107-000D93282A96@Hughes.com.au>


S P TELEMEDIA ANNOUNCES ACQUISITION OF COMINDICO

S P Telemedia (SPT) today announced it had reached agreement to acquire
the assets and business of Comindico from the Receivers, McGrath Nicol.

SPT has acquired one of Australia's first and largest fully convergent
IP based networks, capable of carrying voice data and video
simultaneously, at a fraction of its original construction cost. This
network complements and enhances the existing SPT IP network and
positions the company for further growth.

The acquisition will enable SPT to further expand its current extensive
regional IP broadband network and significantly increase the capital
city network and presence of SPT. The acquisition will also enable SPT
to add a number of new products to the current SPT product suite, mainly
in the voice, dial-up internet and broadband markets and, importantly,
this will be on owned infrastructure.

The Directors of SPT believe that the existing customers of Comindico
will be comforted in the knowledge that a company of SPT's standing has
made this acquisition and can be assured of the continued delivery of
products and services by Comindico. The Directors are confident that the
strategies to be put in place in relation to the future operation of the
Comindico business within the SPT structure will ensure that it is a
major contributor to the future success of SPT.
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