SYDNEY: Australia’s largest telecoms group Telstra Corp Ltd has taken a bet on the resource industry’s appetite for cash-saving technology from drones to wireless production-tracking, snapping up a specialist firm to set up a dedicated mining services unit.
In what could be one of the boldest bets yet for a major player outside the mining sector, Telstra said it would acquire wireless technology company CBO Telecommunications Pty Ltd for an undisclosed sum, using it to form the basis of its new mining technology arm.
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