In a move that will shake up the Australia Mobile Virtual Network Operator (MVNO) market, Optus is set to acquire Amaysim for $250 million.
Amaysim launched 10 years ago and has since grown into Australia’s largest MVNO mobile business with 1.19 million subscribers.
Since listing on the ASX in 2015, it has achieved significant organic growth through the strategic acquisitions of Vaya, Jeenee and OVO’s customers.
The deal is subject to completion conditions, including Amaysim’s shareholder approval and payment adjustments.
Following the acquisition, Amaysim will continue operating as a standalone brand, with strong parallels and complementary strengths to Optus’ challenger position in the market.
Optus is also launching a new budget friendly digital-only brand called Gomo, and CEO Kelly Bayer Rosmarin describes the two announcements as strategic plays designed to disrupt the MVNO market.
“Optus has been rated Australia’s strongest brand, and is competing well in the market, but we have not had any sub brands competing in the growing MVNO segment of the market. That’s why we are so excited to extend our reach and appeal by adding Australia’s largest and most successful MVNO brand, Amaysim, and a new digital brand, Gomo, to our line-up,” she said.
To further disrupt the MVNO market, Optus will target value-conscious Australians seeking easy mobile connectivity with its new digital-only offering, Gomo.
Gomo will feature an app, which can be accessed for onboarding, service and payments. And customers will benefit from Optus’ nationwide network, with full accessibility to its 4G coverage and quickly growing 5G network.
Matt Williams, Optus Managing Director of Marketing and Revenue, said, “Gomo is the go-to solution for Australians who just want more affordable, mobile connectivity, plain and easy. We know customers prefer digital service options, so we’ve prioritised that in our offering, along with flexibility and simple activation, so value-seekers get everything they want, and nothing they don’t.”