7 Dec 2015

Spark to buy South Island company for $50m

3:04 pm on 7 December 2015

A South Island based IT company has been bought by Spark for $50 million.

Spark New Zealand

Photo: RNZ / Kim Baker Wilson

The privately-owned Computer Concepts, also known as CCL, will continue as a stand-alone business with its own brand and growth plans.

Spark will fund the purchase through cash and existing borrowing facilities.

Spark has also agreed to acquire a block of radio spectrum from Craig Wireless, and its related company Woosh, for $9 million.

Spark said the block of spectrum is complementary to its other holdings.