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Safaricom Chief Executive Officer Michael Joseph said Thursday the acquisition of the 51 per cent stake in the Kenyan IT firm would compliment its broadband services, especially to corporate clients, as the mobile phone player continued to expand.
"The move to acquire OneComm has been facilitated by positive changes to the regulatory environment and it underscores Safaricom's commitment to continuously invest in new technologies that would enable it to provide quality services," he said.
Kenya's telecommunications regulator, the Communications Commission of Kenya (CCK) has recently developed new licensing formula, allowing telecom firms to apply for a unified licence.
The unified licence allows the firms to provide a service range.
Safaricom, which acquired the firm's majority stake in a transaction, valued at US$ 2.6 million, said that it would use its entry into the broadband services to expand high-speed internet to far-flung corners of Kenya.
OneCommunications, a firm registered in 2006 as an internet holding company thro ugh its subsidiaries, is a provider of WiMAX access services.
"This acquisition is very strategic to Safaricom as it will compliment our current mobile broadband service offering with robust fixed broadband services," Joseph said.
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