As we move into the new year, Pennytel gears up for its IPO.
With The Hon Stephen Conroy joining the emerging telco in September last year, the Company has aggressively moved forward on its acquisition strategy, and, following the purchase of Focus Communications in June 2021, has successfully integrated the B2B business’ customers and operations under the Pennytel umbrella.
On the operational front, the company broadened its retail offering with the launch of a retail NBN product in September, and has enjoyed significant growth in customers since launch for NBN standalone and NBN & mobile bundles. Pennytel currently has over 23,000 customers using its NBN and mobile products. The company’s churn is exceptionally low compared to industry averages, with the company attributing high customer satisfaction to the quality of their onshore customer service team and ‘no strings attached’ offering.
Pennytel has also signed additional non binding agreements to acquire two companies operating in the B2B space, with customer bases that will allow Pennytel to achieve greater geographical diversification and opportunities to cross-sell to its existing B2B customers.
The acquisitions of B2B businesses Smartalk Pty Ltd and Connexus Group Pty Ltd have seen Mr Lee Atkinson and Mr Michel Tannous join Pennytel’s management team as Chief Revenue Officer and General Manager Sales (respectively). These new additions to the team bring significant telco operational experience to Pennytel as it enters an exciting new chapter in its growth strategy.
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