M2 Group
{{Short description|Former Australian retailer}}
{{Use dmy dates|date=November 2019}}
{{Infobox company
| name = M2 Group Ltd
| logo = M2LogoNew 2013.jpg
| type = Public
| ISIN = AU000000MTU6
| traded_as = {{asx|MTU}}
| defunct = {{End date|2016|2|5}}
| fate = Merged with Vocus Communications
| area_served = Australia, New Zealand
| key_people = Geoff Horth (Chief Executive Officer)
Scott Carter (Chief Operating Officer)
Darryl Inns (Chief Financial Officer)
| industry = Telecommunications
| products = Wholesale & Retail Telecommunications, Power and Gas, Insurance
| revenue = {{increase}} A$1.12 billion (FY15)
| num_employees = 3300 FTE (2015)
| foundation = 1999 by Vaughan Bowen
| location = Melbourne, Australia
| homepage = {{URL|www.m2.com.au}}
}}
M2 Group Ltd was an Australian retailer and wholesaler of telecommunications services as well as power, gas and insurance products.
On 5 February 2016, M2 Group Ltd merged into Vocus Communications.
History
Established in 1999, M2 Group Ltd (“M2”, ASX: MTU) was a provider of a range of communication, utility and insurance services to Australian households and small businesses. Headquartered in Melbourne, M2 had more than 3000 employees in Australia, New Zealand and the Philippines. At M2's 2013 Annual General Meeting, shareholders voted to change the company's name from M2 Telecommunications Group Ltd to M2 Group Ltd.{{Cite web|url=http://m2.com.au/media/6252/AnnualReport2014.pdf|title=Investors | Vocus Group}}
M2's business segment included the Commander and Engin brands, offering a suite of traditional and managed voice and data services and equipment.
Consumer division
The consumer segment, under the brands of Dodo and iPrimus, offered Australian consumers telecommunications services, energy and insurance
Wholesale division
Through the M2 Wholesale division, the firm provides wholesale fixed line, mobile and data telecommunications services to small and medium-sized telecommunications service providers and Internet Service Providers.
M2 was named by BRW Magazine as one of Australia's 100 fastest-growing companies five times between 2003 - 2008, and in the Deloitte Technology Fast 50 eight times between 2004 and 2013.{{cite web|url=http://www.deloitte.com/view/en_AU/au/industries/tmt/8c44f654033ea310VgnVCM2000003356f70aRCRD.htm |title=Deloitte | Technology Fast 50: 2012 Winners' Report |accessdate=2012-08-11 |url-status=dead |archiveurl=https://web.archive.org/web/20130309083325/http://www.deloitte.com/view/en_AU/au/industries/tmt/8c44f654033ea310VgnVCM2000003356f70aRCRD.htm |archivedate=2013-03-09 }}
Acquisitions
The company had made several acquisitions, and maintained a diverse portfolio of brands across a range of market segments.
- In 2005, it acquired Protel Communications, a small provider of broadband and telephony services{{Citation needed|date=April 2010}}.
- In 2007, it acquired Wholesale Communications Group,{{cite web | title = Acquisition of WCG | url = http://www.itwire.com/content/view/14033/127/ | publisher = iTWire | url-status = dead | archiveurl = https://web.archive.org/web/20081202043729/http://www.itwire.com/content/view/14033/127/ | archivedate = 2008-12-02 }} Tenex,{{cite web | title = M2 completes acquisition of Tenex | url = http://www.m2.com.au/viewfile.php?id=109 | publisher = M2 Telecommunications | url-status = dead | archiveurl = https://web.archive.org/web/20080719122713/http://www.m2.com.au/viewfile.php?id=109 | archivedate = 2008-07-19 }} Southern Cross Telecommunications{{Citation needed|date=April 2010}} and Orion Telecommunications.{{cite web | title = M2 Telecommunications to buy Orion | url = http://wirelessfederation.com/news/orion-to-buy-m2-telecommunications/ | publisher = Wireless Federation }}
- In 2008, it acquired Unitel Pty Ltd and agreed to purchase People Telecom.{{cite web | title = M2 agrees to acquire People Telecom | url = http://www.asx.com.au/asxpdf/20081205/pdf/31f1jfx8479cqr.pdf | publisher = ASX }}
- In 2009, M2 acquired selected strategic assets of Commander Communications.{{cite web | title = M2 buys Commander SMB unit in 'strategic coup'| url = http://afr.com/home/login.aspx?EDP://20090603000031208749§ion=industry-itt | publisher = Fairfax }}
- In 2012, M2 acquired Primus Telecommunications for $192 million.{{cite web | title = M2 buys Primus| url = http://www.heraldsun.com.au/business/m2-buys-primus-for-192-million-as-it-prepares-for-national-broadband-network/story-fn7j19iv-1226327649408 | publisher = Fairfax }}
- In 2013, the company announced its planned acquisition of Dodo for $204 million,{{cite web | title = M2 buys Dodo, launches takeover bid for Eftel | url = http://www.afr.com/p/technology/buys_dodo_launches_takeover_bid_6TFhSO5GYevWX1kKAysiBI | publisher = Fairfax }} and Eftel (which included the aaNet, Engin and ClubTelco brands) for $44 million.{{cite web | title = M2 closes Eftel offer | url = http://www.computerworld.com.au/article/461609/m2_closes_eftel_offer/ | publisher = Computerworld }}
- In 2015, M2 acquired CallPlus and 2Talk for NZD$250 Million.{{cite web | title = M2 to Acquire Call Plus Group & 2Talk | url = http://www.asx.com.au/asxpdf/20150413/pdf/42xvf3xfvtndvd.pdf}}
Merger
On 28 September 2015, it was reported that M2 Group and Vocus Communications would merge to create the 3rd largest and 4th largest telecom company in New Zealand and Australia respectively. The resulting company was estimated to be worth US$1.4 billion.Stewart, Robb M. [https://www.wsj.com/articles/vocus-m2-group-plan-merger-1443392845 "Vocus, M2 Group Plan Merger"], Wall Street Journal, 27 September 2015. Accessed 3 February 2016. After the completion of the merger, M2 CEO Geoff Horth will remain the Chief Executive of the successor group and M2 shareholders will gain a 56% ownership of the new entity.Ryan, Holly. [http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=11520216 "M2 merger to create NZ's 3rd biggest telco"], NZ Herald, 28 September 2015. Accessed 3 February 2016. As of 5 February 2016, M2 Group Ltd and Vocus Communications Limited obtained the final court approval to proceed with the merger of the two companies{{Cite news|url=https://www.vocus.com.au/news/vocus-and-m2-merger-approved|title=Vocus and M2 Merger Approved · Vocus Communications|date=2017-02-28|access-date=2017-02-28}} and now trades on the ASX under Vocus.{{cite web |url=https://www.vocus.com.au/investors |title=Investors {{!}} Vocus Communications |website=www.vocus.com.au |url-status=dead |archive-url=https://web.archive.org/web/20150910132051/http://www.vocus.com.au/investors |archive-date=2015-09-10}}