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A Texan broadband access company has rescued Australian telco equipment provider NetComm Wireless from administration, pledging US$7 million (AU$10.6 million) to obtain the 40-year-old venture.
American firm DZS announced its takeover of NetComm Wireless on Monday, securing a future for the provider of 5G wireless, home broadband, fibre extension, modems, and Internet of Things (IoT) technology.
Sydney-based NetComm Wireless counts local telco giants like Telstra and Aussie Broadband among its customers, along with global players like Bell Canada and USCellular.
It was acquired by US-based Casa Systems for $161 million in 2019, but a failed divestment and operational challenges through late 2023 saw the venture flounder.
ABOUT THE AUTHOR
Senior Business Journalist
David Adams is a senior business journalist at SmartCompany. He is interested in the challenges and opportunities facing Australian businesses, along with the influences of technology, culture, and a changing climate. Before SmartCompany, David served as a reporter for Business Insider Australia. You can find him on Twitter at @DavidAdams_AU.
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