Engin acquires 10% of Unwired

VoIP provider Engin has acquired approximately 10.38% of broadband provider Unwired Group Limited through a number of on-market transactions for "investment purposes".

VoIP provider Engin has acquired approximately 10.38% of broadband provider Unwired Group Limited through a number of on-market transactions for "investment purposes".

The acquisition was funded by a Seven Network group company, and appeared to hinge on Unwired's WiMAX network.

In a statement regarding the acquisition, Engin praised the WiMAX technology and added it wished to explore what it thought were "substantial synergies" with the broadband provider.

Engin's executive chairman Neil Gamble said, "We see a strong rationale for Engin and Unwired working cooperatively."

The company said it had no intention of mounting a takeover of Unwired, but it had not ruled out the possibility of a merger.

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