Punakaiki Fund has acquired a 20% stake in Vibe Communications.
Vibe Communications (Vibe) is an Auckland based ISP (Internet Service Provider) that provides wholesale and corporate telecommunication services to businesses in New Zealand. They have a strong technical reputation, and use their networking and procurement deal skills to provide high quality service to serve other ISPs and ICT service providers. They are most comparable to an early version of Australia’s Vocus, which is now listed on the ASX.
We will be joining founders Barry Murphy and Davey Goode as shareholders, with the investment deleveraging the balance sheet and providing the ability to grow faster.
Vibe’s core strength is their technical ability to deliver a much higher quality experience to their demanding business customers. The two leaders, along with lead architect Callum Barr and other staff are technically very strong, and place paramount importance on the quality of the product for customers. Meanwhile their internal systems allow customers to self-manage, and they can even provide an “ISP in a box” for aspiring ISPs. They are feeding into an industry trend with the emergence and growth of specialist ISPs, including regional ISPs, ISPs focused on particular groups and ICT service providers looking to extend their offerings.
Along with their technical chops, Davey and Barry are also deal makers – whether its seeking great value for their customers or building Vibe’s local and global network. It’s a very fast moving business at times, and Barry and Davey have a lot of leeway to continue to build the business. Their network is growing fast, and is, according to Hurricane Electric (HE.net), the most connected well network in New Zealand – so get in touch if they can help your business.