Downer EDI purchases an NZ telecom service provider

Downer's New Zealand engineering division, Downer EDI Engineering, acquired Astute Ltd from its parent, Cabletalk Group Ltd, for an undisclosed sum, the Sydney-headquartered company said on Thursday.

Through the acquisition, Downer will extend its five-year service contract with TelstraClear and provide maintenance services to Vodafone, both across New Zealand.

"This is an important strategic development which definitively reinforces Downer Engineering's position as New Zealand's largest provider of telecommunications ... infrastructure management services," Downer Engineering chief executive Wayne Nolan said.

Downer Engineering will gain capability across residential and business communications technology through the acquisition, the company said.

The transaction is expected to be completed late in May.