Symbio is the latest business caught up in an acquisition spree as small telecoms companies go after the biggest fish in the pond.
For some time, small internet providers such as Aussie Broadband and Superloop have been nipping at the heels of Australia’s biggest telecommunications groups, stealing away some of the customers who stream Netflix and log onto Zoom calls from home.
Aussie Broadband is still doing due diligence on Symbio’s financial books, but if it makes a firm offer, Symbio has said it will recommend it to shareholders. The phone numbers can be used by people dialling into a Zoom or Microsoft Teams meetings as an alternative to clicking on a web link.Symbio’s two smaller business divisions provide so-called “white label” telecommunications services to customers like Telstra and Aldi, which sell them under their own brands, as well as bundled communication services to big companies and governments that enable them to use software like Microsoft Teams.
Mr Sugo told analysts in August after delivering a $1.77 million net profit, down almost 70 per cent on a year earlier, that the CpaaS division had experienced a “turbulent” year with some customers demanding lower prices.But the company retains a bullish outlook, arguing that it has strong growth prospects in Asia. It has set up businesses in Singapore and Malaysia, and set its sights on entering Taiwan over the next 12 months.
Aussie Broadband has been integrating Over the Wire but was not planning an immediate expansion of the voice calling business until Superloop’s bid for Symbio popped up.
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