Australian Stock Exchange-listed telco M2 Telecommunications Group has entered the New Zealand market.
M2 managing director Vaughan Bowen says the company has been working for more than a year to pull together the necessary elements to launch into New Zealand where its operation in Auckland will be known as M2NZ Ltd.
“The agreement with Telecom is quite a coup and required M2 to meet various criteria,” he says. “New Zealand is a similar market in many ways to Australia but also presents a number of unique opportunities.”
A spokesperson for Telecom says the wholesale agreement is similar to those it has in place with companies such as CallPlus, Ihug and Orcon.
M2 focuses on the small to medium enterprise market, offering value-added services. Its core areas are fixed-line voice services, full-service IT, and broadband and data
Bowen says the company will immediately introduce to the New Zealand market such offerings as its Phone&Fly marketing alliance with Travelscene American Express and its BarterTelecoms programme.
A marketing agreement has been signed with marketing specialist The Phone Company to aid in the development of a national dealership and agency sales network.
Last year, M2 was named one of Australia’s fastest growing companies in the BRW Fast 100.
It posted revenue of A$10.99 million for the half-year to December 31, 2005, up 65% on the corresponding period the previous year, and earnings before interest and tax of A$863,000, up 108%.