Spirit Telecom snaps up Cloud BT, signals Sydney push

Spirit Telecom has revealed its latest foray into the Sydney market, this time with the $700,000 acquisition of managed IT provider Cloud BT.

Founded in 2008, Cloud BT specialises in cloud and security, as well as IT consulting and outsourcing. The company raked in $1.3 million in revenue in the 2019 financial year.

Spirit said in an ASX statement that the acquisition would bolster its cloud based, security managed services that run over its fixed wireless networks. There will also be “significant cross-sell opportunities” into Spirit’s existing IT customer base.

The telco also touted its recent network expansion in Sydney, which added approximately 2000km of 50 – 100 Mbps coverage across the city’s metro areas, reaching a potential 2.5 million more people, along with 200km² of 1Gbps coverage and 33 network-ready buildings with 100Mbps minimum download speeds.

“Through this acquisition of Cloud BT and network expansion, Spirit can offer high speed coverage in key business districts in Sydney and NSW,” said Spirit managing director Sol Lukatsky.

“With our expanded Sydney network launched, and the Cloud Business Technology acquisition in Sydney, Spirit can now deliver the full range of Spirit’s IT services which means that more SMBs can access our high-speed, fixed-wireless Sky Internet, cloud, security and bundled IT service and products across NSW.”

Cloud BT chief executive JJ Fiasson added: “We have strong IP and experience in delivering cloud-based solutions for businesses. Through our integration with Spirit we can offer more products to the market and help more SMBs on the Spirit high speed network across NSW – a benefit to both our customer bases.”

Lukatsky added that Spirit would continue pursing complementary telco and MSP acquisitions, and would make a market update announcement shortly.