Vocus’s Stuff Fibre acquisition demonstrates ‘opportunities for growth’ during uncertainty

Share this on social media:

New Zealand provider Vocus has entered an agreement to acquire Stuff Fibre from parent company Stuff Ltd, a New Zealand-based news and media firm.

The move will add Stuff Fibre’s 20,000 broadband customers to Vocus’s 200,000-strong portfolio in a move in-keeping with the latter’s growth strategy. 

Launched in 2016, Stuff Fibre’s vision was to use the scale, reach and trust of Stuff and its associated media outlets to launch new businesses and supercharge their growth. The staff at Stuff Fibre will retain their roles within Vocus.

In a press release featured on the Stuff Ltd news channel, Vocus chief executive Mark Callander explained: ‘This is a really positive move for us, we have always been clear that we want to be the telco provider for one in four Kiwi homes – whether that’s through a residential service, or through wholesaling services to another retailer – and this purchase helps bring us closer to that goal.’

Callander added that the purchase, during uncertain times, showed Vocus was confident that there were opportunities for growth in the coming months and years. ‘We have grown our customer base by 10 per cent overnight, when these opportunities arise, you need to grab them,’ he said.

Stuff chief executive Sinead Boucher said of the acquisition: ‘Stuff Fibre has won numerous best in market awards and reached a significant customer base with 20,000 Kiwis on-board and we are thrilled to see it go into the hands of new owners who can take it even further.’

The deal is due to complete on 20 May.

An image from the 2019 FTTH Conference, which took place in Amsterdam

09 February 2022

Image credit: Panchenko Vladimir/Shutterstock.com

24 November 2022

Image: Martial Red/shutterstock.com

24 November 2022

Recent News

24 November 2022

Hexatronic Group is to acquire microduct solutions provider, KNET for an expected enterprise value of $63m.

24 November 2022

The acquisition is designed to bring new jobs and business opportunities to five townships across New York’s southern Columbia County.

22 November 2022

The company is to acquire Tibit Communications, having completed its acquisition of Benu Networks.

22 November 2022

toob is expanding its full fibre services over CityFibre’s national network.