FiberTel to Acquire Australian Network

PERTH, Australia, Nov. 30 -- Telecommunications investment company FiberTel has announced plans to merge with Amcom Telecommunications, a high-speed data telecommunications developer based in Western Australia, in a transaction valued at almost $19 million. FiberTel, which currently owns a half share in Amcom, said it had reached an agreement to acquire the remainder of the company from its founders, the Mclean family.
Amcom -- described by FiberTel as Western Australia's only licensed independent telecommunications carrier -- recently completed the first stage of its fiber optic network roll-out in Perth, and has begun rolling out networks in two other cities in the region. In outlining its company strategy, FiberTel said it plans to offer a broadband fiber optic network for integrated telecommunications and data transmission services to other telecoms and resellers; to Internet service providers; and to government and business clients in Australia's financial centers outside of Sydney, Melbourne, and Brisbane.