SP Telemedia sees Comindico as a bargain

“SP Telemedia has emerged as the winning bidder for wholesale network provider Comindico which was recently placed into receivership by its secured creditor, Cisco.

Newcastle-headquartered SP Telemedia today announced to the Australian Stock Exchange that it had reached an agreement with Comindico’s appointed receivers, McGrath Nicol, to purchase the wholesale network provider’s business and assets.

SP Telemedia said that the acquisition would allow it to increase its presence in capital cities and add new dial-up, broadband and voice services to its existing product line. SP Telemedia, like Comindico, is a Cisco customer. Both companies use Cisco’s network technology platform to carry voice, video and data over IP.”