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Field Solutions to acquire IP Transit, assets of Ordnance Networks

Field Solutions Holdings Ltd. agreed to acquire IP Transit Pty Ltd. and the assets of Ordnance Networks Pty Ltd.

Financial terms of both transactions were not disclosed. The acquisitions will provide Field Solutions with network points of interconnect in New South Wales, Queensland, South Australia, Victoria and Western Australia, the company said Oct. 1.

Field Solutions projects the acquisitions will contribute new revenue to the company of at least $1.2 million and be significantly earnings accretive in fiscal 2020.

IP Transit directors David Hooton and Lee Campbell-Smith will stay with the company and were appointed to senior management roles within Field Solutions.

IP Transit and Ordnance Networks provide carrier-specific products, services and software. Field Solutions is an Australian regional telecommunications carrier.