MyNetFone Limited, an Australian telecommunications provider, today signed an agreement to purchase the client base and assets of CallStream, an inbound call specialist. This acquisition will cost MyNetFone up to $600,000, but the added business is expected to add the same to the company's pre-tax profit within the next year.

The acquisition is a perfect fit for the telecommunications provider as it already serves a number of small business customers, which purchase high margin hosted inbound telephony services. CallStream's customer base, meanwhile, consists of a little under 2,000 inbound services across 650 small business customers. While this may seem small, it is an important acquisition for MyNetFone as it provides the company with a strong foundation in a lucrative area of Australian telephony.

The acquisition details are such that MyNetFone will acquire CallStream for a total maximum consideration of $600,000 in cash payable in two installments within the next 60 days, subject to successful customer migration. CallStream is expected to contribute gross revenue of $1.0 million per year, delivering about the cost of the acquisition in annualized EBITDA contribution. Earnings are expected to increase as time goes on, especially once new sales and marketing initiatives are deployed based on the original brand and product line.

MyNetFone Limited is one of Australia's top providers of hosted voice and data communications services for residential, business and enterprise users. In July, the company received support for the Tasmanian government to roll out VoIP services throughout the country over the next five years. The approximately $5-million deal will go a long way in helping the company expand its presence throughout Australia.

In March, MyNetFone released its new virtual PBX (News - Alert) solution, which boasts a number of innovative features, particularly as it is the only large-scale hosted platform developed in Australia. Called Virtual PBX 2.0, the solution was developed by Symbio (News - Alert) Networks, a wholly owned subsidiary of MyNetFone.