TeamTalk Buys Stake In Araneo
8:10 AM, 24 Jul 2006
Mobile radio group TeamTalk is buying 35 percent of telecommunications infrastructure company Araneo for an undisclosed sum.
Wellington-based Araneo provides last mile broadband and high speed networks to Internet Service Providers.
The networks are used for voice over internet protocol video conferencing and for intercompany virtual private networks.
TeamTalk says the investment gives it a foothold in high speed wireless data without much risk.
TeamTalk managing director, David Ware, says planned unbundling reforms helped prompt its investment decision.
Separately, another ISP, Woosh, plans to make a major announcement this afternoon but is not giving any details.
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