Telecom NZ completes Revera acquisition

The telco revealed in late April that it had signed a $96.5 conditional agreement to acquire the company

Telecom New Zealand has announced it has completed its acquisition of data centre and infrastructure services provider Revera.

The telco revealed in late April that it had signed a $96.5 million conditional agreement to acquire the company.

Telecom NZ said that the acquisition would help Revera broaden its cloud services.

The telco intends to retain the Revera brand and the company will continue to operate as a standalone business.

"This acquisition adds a respected brand that deepens our IT services portfolio for business customers, particularly with regards to cloud services," Telecom CEO Simon Moutter said when the acquisition was announced.

The CEO said that the deal meant Revera and Telecom's ICT services division, Gen-i, would be better position to respond to customer needs in the areas of big data and cloud computing

For the year ending 31 March, Revera had total revenue of $50 million.

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