M2 Telecommunications Group Ltd (ASX:MTU) says its wholly owned subsidiary M2 Commander Pty Ltd has formed a strategic alliance with FlexiGroup Ltd (ASX:FXL) for customer finance.
The diversified telecommunication services provider says the deal will see FlexiGroup provide customers of M2's Commander business with finance solutions for phone systems and office equipment, targeting small to medium businesses.
M2 says it undertook considerable due diligence on shortlisted finance companies and FlexiGroup demonstrated an understanding of the business and its customer's needs.
FlexiGroup says it makes sense for the company to partner with the Commander brand and the arrangement will allow the company to expand with M2 and Australia's largest dealer network in providing financial arrangements to the small to medium business market.
M2 Telecommunications Group boosted its fiscal 2010 result by 119% to record a profit of $16.15 million.
MTU Price at posting:
$2.21 Sentiment: None Disclosure: Held
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