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6th July 2004
Announcement - ValueNet acquisition
Lemarne Corporation Limited (Lemarne) is pleased to announce that its subsidiary, C10
Communications yesterday acquired the Melbourne based business of Complete Broadband Networks
Pty Ltd, trading as ValueNet. ValueNet is an emerging business providing hosted Voice-over-IP
(VoIP) services featuring products with advanced features not generally available to the SME
market with current PABX technology. This acquisition is in line with the strategy we outlined
in 2003 which aimed at augmenting C10 Communications’ product offering to include a
service based element as part of an ongoing objective to increase intellectual property and
market differentiation. The acquisition of ValueNet included C10 Communications being
appointed the exclusive distributor in Australia and New Zealand for one of the leading global
suppliers of VoIP managed services, which has successful deployments in Japan, Europe and the
United States.
The purchase price for ValueNet has been structured predominantly in favour of downstream
success based payments. C10 Communications will invest in the ongoing deployment of
ValueNet’s network in Australia and expects to establish a series of distribution
agreements that should see VoIP services being marketed through established telecommunication
service providers focused on the business and corporate market segments.
Directors expect this acquisition will have a positive impact on E.P.S. from 2006 onwards.
D.J. Rainsbury
Managing Director
6 July 2004
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