MARET GROUP EXPANDS WITH ACQUISITION OF FREEDOM INTERNET
06/09/2021 – FOR IMMEDIATE RELEASE
Maret Group has completed an acquisition of in-building internet provider, Freedom Internet in Australia. Freedom operates a high-speed network that provides internet to over 350 apartment buildings in Queensland, New South Wales, Victoria, and South Australia. Freedom is joined in the Maret Group stable by fast-growing regional telco, MarchNet.
Earlier this year Maret Group acquired, via carrier subsidiary MarchNet, 5G spectrum and intends on using the buildings in the Freedom network as broadcast sites, in addition to growing the existing Freedom business.
“This is a significant step forward on our path to building a substantial challenger 5G network. With the buildings that Freedom already access agreements to, and backhaul in place, we are now well advanced on our rollout plan. The current network to provide in-building internet services has existing backhaul and rooftop access, so it aligned perfectly with our needs” said Paul Torrisi, Group CEO of Maret. “We’re really excited to be working with the teams at Freedom and look forward to understanding, and growing their traditional business, as well as complimenting it with our capabilities” he added.
”The Freedom Internet team are thrilled by the opportunity to grow our network footprint, improve our service offering to our existing customers and further disrupt the market. Freedom Internet has brought together an enthusiastic and experienced team of professionals, who have achieved rapid growth since expanding its operations from New Zealand to Australia in 2013. This represents another exciting step in its’ journey as a niche telecommunications service.” Said James Bayly, CEO of Freedom Internet, who will be handing over to the Maret team. James will continue on in the New Zealand Business.
Shane Bennett will assume the role of General Manager of Freedom, having been instrumental in the growth of MarchNet for over seven years. “Freedom’s experience in the retail sector combined with MarchNet’s infrastructure expertise will result in a strong network that does more than meets the requirements and demands of users. Utilising smarter systems and technology we’ll be able to cost effectively deliver reliable services with speeds far in excess of typical services. MarchNet and Freedom have very compatible cultures and will integrate very nicely”, Shane Bennett said.
Maret Group was advised by Jason Bignell of 333 Capital and represented by Eugene Fung of Thomson Geer Lawyers and advised by Peter Moon of Cooper Mills Lawyers on telecommunications and compliance matters.
Freedom Internet was advised by Ben Dunscombe of Wiltshire Corporate Advisers and represented by Tim Sayer of Talbot Sayer.
For more information, contact Paul Torrisi on 07 3606 1500