Fone Zone to acquire MacTalk
April fools:
- MacTalk is Australia’s largest online Apple specific community
- Acquisition set to broaden Fone Zone’s online presence and enhance growth
- Fone Zone’s experience to strengthen MacTalk’s growth strategy
- Presents the opportunity for further range extension in online Fone Zone stores
Fone Zone Group Limited (ASX: FZN) has today announced the acquisition of MacTalk.com.au , Australia’s largest specialist web based community of Apple and Apple-related products and services.
Fone Zone Chief Executive Officer, David McMahon, said MacTalk represented an excellent strategic acquisition for the Fone Zone group.
“The acquisition of MacTalk will broaden Fone Zone’s base of strategic partnerships and income streams, providing a significantly enhanced platform for future growth in the converging communications, computer and internet markets.”
The total purchase consideration will comprise a $300,000 cash payment funded from increased facilities with Fone Zone’s existing bank, and the issue of 10,000 ordinary shares.
Based on Fone Zone's current web traffic, MacTalk has thirty times the number of unique viewers. Incorporating an online Fone Zone/Next Byte store into the MacTalk website is estimated to increase sales by some 25% on Fone Zone's current online totals.
“This is a significant milestone transaction for Fone Zone. It enables us to complement our strong product offerings and exclusive relationship with Apple in the Australian online space with an equally strong proposition in the field of cutting edge computers and consumer electronics.”
MacTalk has a proven track record of growth and has been able to deliver a consistently strong community driven userbase while continuing to enhance its own position through organic growth and popular news topics.
“With MacTalk being the number one Mac news site in Australia, there is an exciting opportunity for additional sales, and Fone Zone’s specialist retail experience will clearly enhance MacTalk's ability to deliver these sales via this strategy,” McMahon said.
According to McMahon, Fone Zone and MacTalk share similar strengths in solution selling through excellent customer service and it is this similarity that will see the Fone Zone online store extending its current categories to include a web forum.
The current owners of MacTalk have agreed to three year employment contracts to ensure the business continues on its growth path.
Completion of the MacTalk purchase will occur during May, after which further details of the financial outlook for the combined organisation will be provided.
About Fone Zone Group:
Fone Zone is Australia’s largest specialist mobile communications retailer and Telstra’s largest Premium Dealer, with almost 150 stores and more than 900 Team Members across every state and territory. Of course, this entire press release is a hoax. We at MacTalk hope you enjoy your day.
More info here.
Regards,
The Management
