Telstra has acquired the Hosted Collaboration Solutions business from Inabox for $4.5 million.
The business provides Cisco hosted collaboration services to the Tasmanian Government. It was acquired by Inabox as part of its $9.9 million buyout of Anittel in 2014.
Telstra will take over the long-term exclusive supply agreement with the Tasmanian state government. The transition in services is expected to complete by 30 June 2017.
During the 2016 financial year, the HCS business earned $3.7 million in revenue, $1.2 million EBITDA and $300,000 in profit before tax.
Inabox chief executive Damian Kay said the money will be used to pay out Inabox's lease liabilities and strengthen its balance sheet.
"The HCS business is government-focused, and while we could have extended further into the enterprise market, this would have required substantial investment, resources and management focus," said Kay.
"Inabox's greatest opportunities and strengths lie in the SMB market where we have over 1,000 customers and support over 400 channel partners around Australia. Divesting the HCS business allows us to deploy new products that target our core SMB market, and consider new strategic acquisitions."
In January, Telstra filled out its enterprise cloud application capabilities with the acquisition of Melbourne Microsoft partner Kloud for approximately $40 million.
-1.jpg&w=100&c=1&s=0)
.png&w=100&c=1&s=0)
