Symbio Becomes Part Of The My Net Fone Group Thursday 23 February 2012 @ 13:12
In a development that will change the Australian communications playing field, Symbio Networks has been acquired by retail VoIP & DSL provider My Net Fone Limited.
This strategic acquisition will strengthen Symbio's continued product innovation and provide a solid path to domestic and international growth. Symbio has enjoyed impressive success in the Asia Pacific region, with international interconnects with some of the largest and well respected global.
Tier 1 operators. The new standing as part of an ASX listed group will help Symbio further expand its capabilities and reach, ultimately benefiting the company's wholesale customers.
The two companies will continue to operate independently in regards to both financial and human resource aspects, where it is ‘business as usual'. At the same time, there is a strong ideological fit, with the two companies closely aligned in their commitment to innovation, new-generation communication services and an inclusive, supportive culture.
Both Symbio and MyNetFone are profitable companies engaged at different vertical levels in the telecommunications market and are in a position to expand independently of each other, while benefiting from productising innovative developments and R&D efforts.
"We have a vision for this company to be the new-generation communications leader, especially with the move to IP thanks to the NBN" said Rene Sugo, Symbio Director, "The industry is undergoing so much change, and now is the time for IP-communications companies to take the lead and shape the market. Joining the My Net Fone Group, we are confident of our direction & potential."
Symbio Networks General Manager, Jon Cleaver conveys the same point. "The timing could not be better as the industry moves into the next phase, demanding feature rich, high quality voice services," said Mr. Cleaver, " With the backing of the MyNetFone group we can continue to invest in our carrier interconnected network and solutions, whilst taking advantage of increased connectivity through the likes of the NBN, further cementing ourselves as the leader in the wholesale VOIP market."