Amaysim Optus Agreement
Amaysim Australia, the ASX-listed telecommunications operator, has updated its wholesale network services agreement with Optus, which was launched by the company in 2010. This acquisition would give Optus immediate access to a credible growth plan and a company that knows it well. Amaysim is offering customers affordable internet and voice calls via Optus` 4G Plus network across Australia, as part of an agreement due to expire in June 2022. Virtual operators such as Amaysim sell mobile phone and data services through Telstra, Optus and TPG Telecom networks. Amaysim has a long-standing network contract with Optus, which was due to expire in June 2022. It goes without saying that SingTel Optus, which owns Australia`s second largest telecommunications service provider, Optus, made a cash offer for the purchase of Amaysim and finalized due diligence and transaction documents to pave the way for a binding agreement. Amaysim is testing the market for its next network services agreement, with the current wholesale agreement with Optus expiring in mid-2022. In late August, the company entered into a $115 million contract to sell its energy distributor Click Energy Group Holdings to AGL Energy and completed the transaction a month later. “OVO Mobile subscribers were acquired in June 2020 and did not have a significant impact on ARPU in the GJ20, but they also have a lower ARPU than our average periodic subscription.” The total number of mobile subscribers was 1.18 million euros at the end of June; The company has about 7,000 subscribers per month and another 115,000 through the acquisitions of Jeenee Mobile and OVO Mobile. “The sale eliminates the risks associated with persistent engagement in a challenging and changing regulatory environment and an imminent increase in the rotten debt due to COVID-19,” the operator said. A new Gomo app has been launched to allow customers to log in and manage their accounts.