Optus acquires Amaysim, three other MVNOs

Optus has acquired its biggest mobile virtual network operator (MVNO), Amaysim, for $250 million.

The deal also includes three other Optus MVNO brands, Vaya, Jeenee and OVO, which Amaysim acquired within the last five years.

In its ASX announcement, Amaysim said the proposed sale of its mobile business to Optus would provide a premium to return to shareholders. The company plans to delist from the ASX and wind up upon completion of the deal.

Amaysim said the decision to sell came after its MVNO agreement with Optus expired earlier this year. The company said it also started receiving acquisition offers for its mobile business after offloading its Click Energy business earlier this year.

Amaysim chief executive Peter O’Connell said, “We are delighted to announce the proposed sale of amaysim's mobile business to our long-term strategic wholesale partner, Optus.”

“Amaysim has a first-class team that cares for its customers which Optus has recognised through this acquisition. We believe Optus, with its deep knowledge of our operations, is well-placed to look after our customers and take the growth of the business to the next level.”

Optus said Amaysim will remain as a standalone brand with “strong parallels and complementary strengths” to Optus’ challenger position in the market.

Optus CEO Kelly Bayer Rosmarin said, “In only ten years, Amaysim has grown to be Australia’s largest MVNO, building a brand and service offering that has resonated with Australian consumers.”

“Already underpinned by Optus’ premium 4G network, Amaysim has a customer-oriented philosophy which very much aligns with Optus’ own customer-first approach. Optus will keep the amaysim brand intact and this deal will provide the certainty and backing amaysim needs to power ahead and accelerate its growth in the MVNO segment.”

“As its many awards attest, Amaysim has successfully resonated with a broad segment of the Australian market. This acquisition cements the long-term relationship between Optus and Amaysim and guarantees that amaysim customers will continue to enjoy the benefits of Optus’ premium mobile network. We welcome the amaysim team into the Optus family.”

Optus also launched a new digital-only brand, Gomo, targeting “value-conscious” consumers.

The new brand will have a digital interface via a mobile app, which can be accessed for onboarding, service and payments. Optus said it was inspired from the current economic climate as well as lessons from parent company Singtel’s businesses across Southeast Asia.

Optus managing director of marketing and revenue Matt Williams said, “Gomo is the go-to solution for Australians who just want more affordable, mobile connectivity, plain and easy. We know customers prefer digital service options, so we’ve prioritised that in our offering, along with flexibility and simple activation, so value-seekers get everything they want, and nothing they don’t.”

“Utilising Optus’ mastery of digital experiences, Gomo is set to be the real challenger brand of the MVNO market – just as Optus is the challenger in the MNO market - and we plan to really shake up the market with what Gomo has to offer.”