Amaysim has bought Brisbane-based mobile virtual network operator, Vaya Group, for $70 million as it looks to boost scale in Australia.

Vaya, an online-only business started in 2011, operates a low cost mobile product suite and has around 140,000 subscribers. Vaya operates in the sub-$20 market in Australia and like Amaysim, uses the Optus 4G Plus network.

The acquisition, which also includes Vaya’s other brands Live Connected and Zen Connect, has an enterprise value of $70 million, including an equity value of $20 million.

Julian Ogrin, CEO of Amaysim, said the acquisition was a “rare opportunity” for the telco to significantly grow its subscribers in the same network and in a complementary market segment.

“The transaction will build on Amaysim’s position in a consolidating market, enhance the company’s scale and leverage its online platform,” Ogrin said.

Vaya employs around 40 staff which includes its Brisbane-based employees and a customer service centre in Philippines. Vaya also has an outsourced service centre in India which will continue in the short to medium term under a transitional arrangement.

Amaysim said it will continue to operate Vaya and Amaysim separately, stating it will be “business as usual” for both brands.

“We are ready to embark on this new chapter in our development and this acquisition will not distract our management team. Amaysim’s organic growth strategy and performance remains on-track and has not changed as a key focus for the team.”

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