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Stuff
Stuff Fiber will be sold to Vocus.
Stuff Ltd has entered an agreement to sell Stuff Fiber to telecommunications provider Vocus, for an undisclosed sum.
Stuff Fiber has 20,000 broadband customers.
Vocus New Zealand chief executive Mark Callander said the purchase fitted with the company’s growth strategy. Vocus has almost 200,000 customers and operates Orcon and Slingshot.
Stuff Ltd also operates Stuff, Neighborhood and newspapers such as the Dominion Post, Sunday Star-Times and The Press.
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“Stuff Fiber is a strong business, with great customer service satisfaction scores, and we are pleased to welcome them into the Vocus fold,” Callander said.
“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.
“Stuff Fiber has some great products, such as in-home Wi-Fi troubleshooting, which we will introduce to our existing customers and we’ll work to bring Vocus products such as power and mobile services to the Stuff base. In recent years, Vocus has seen considerable growth in bundled offers, with customers recognizing the value and convenience of consolidated utilities. ”
Ross Giblin / Stuff
Stuff chief executive Sinead Boucher said the company would look for future opportunities to launch new businesses.
Callander said 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, just as we have done with Woosh and Orcon purchases previously.
“Fixed-line broadband, mobile and energy services are always in high demand, and we remain focused to further increasing our market share in these areas and continuing to deliver an exceptional customer experience.”
Stuff chief executive Sinead Boucher said Stuff Fiber was launched in 2016 with a vision to use the powerful scale, reach and trust of Stuff, Neighborhood and its newspapers to launch new businesses and supercharge their growth.
“This has proven a successful approach and we will continue to look for new opportunities to do the same in future.
“Stuff Fiber 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 Stuff Fiber staff would transfer to Vocus, Callander said.
The deal completes May 20.
Boucher said Stuff had also completed the sale of its shareholding in energyclubnz to Future Energy Management Company.
