Perth-based voice over internet protocol provider, kmoo, is likely to be sold to an eastern states ISP provider, with the company’s existing shareholders concentrating on other interests.
Kmoo stakeholder Charlie Morgan, whose private investment company Seaspin Pty Ltd had an investment in the VoIP provider, told WA Business News there was considerable market interest in kmoo.
“We were looking for a company that could expand the retail marketing side of the kmoo business and that could work on channels that could get things to market,” he said.
Mr Morgan said there were a number of interested parties, the majority being ISPs, looking to break into the VoIP market.
He said the sale allowed him to concentrate more on other interests – most notably in the resources sector.
The sale of kmoo comes after resources incubator Hercules Energy Pty Ltd, the company Mr Morgan founded with Verona Capital’s Craig Burton in mid-2005, announced two deals, including the uranium IPO Wildhorse Energy Ltd and the sale of its Vulcan Geothermal Pty Ltd assets to Green Rock Energy Ltd.
Kmoo currently has 500 customers across consumer, home office and small business sectors.
Hurst Executive Management Services principal Damon Hurst said a key sale point of kmoo was that, while the current customer base was relatively small, kmoo had a back-end system in place that could handle 100,000 customers.
“You need 20,000 customers as a base point for ISPs to show any interest,” he said.
According to Mr Morgan, kmoo’s VoIP plans could offer cost savings for SMEs of up to half of their phone bills.
He said the telephony market would continue to grow and offer a number of opportunities.
“There has been a considerable move towards VoIP technology in the last 12 months,” Mr Morgan told WA Business News.
“You are seeing a lot more people installing IP phone systems.”
In September, Clarinet Australia was renamed kmoo.
Clarinet Australia was formed in 2004 and was the Australasian arm of Clarinet International, which has been providing network integration services worldwide since 2002.
The Australian operation was established specifically to capitalise on Clarinet International’s expertise in satellite and internet telephone technology and services.
