The company has released details to the National Stock Exchange confirming it has entered into an agreement to purchase the businesses as part of a strategic move expected to deliver lasting benefits to the region.

MGR IT is the IT business unit of local firm MGR Advisory providing a broad range of technology-based services, IT advisory, sales and consulting services, whilst Hitech ICT - also part of MGR Advisory - provides voice and data services. Both businesses have been servicing central Victoria for over 30 years.

Bendigo Telco managing director Kevin Dole said the acquisition was a strategic move for the company expected to deliver lasting benefits to the region.

"We believe we will be a stronger and more effective organisation together; and have confidence that we can leverage MGR and Hitech's people, systems and processes to provide high quality services to our customers.

"Bendigo Telco has been undergoing a period of growth and transformation over the past couple of years, and we were looking to strengthen our IT offering to complement the other telecommunications and technology related services we provide.

"With the acquisition of these two longstanding businesses, we will add more expertise to our teams, as well as 200 extra customers and 18 additional staff."

Bendigo Telco was started more than 20 years ago to deliver local benefits and grow regional businesses.

The company, which last year announced a profit of just over $1 million, operates five offices in Bendigo, Ballarat, Hobart, Launceston and Geelong servicing customers across the country. A percentage of all customer revenue is reinvested in local community enterprises to support initiatives across Victoria and Tasmania.

Mr Dole said Bendigo Telco's close relationship with its customers offered insights into the technology needs of the community and the part that Bendigo Telco can play in improving the local economy.

"Going forward, our goals and purpose remain unchanged. Our intent has always been to help communities thrive by ensuring they have access to services that help productivity - like great phone and internet, and increasingly technology and IT services too."

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He said the announcement signalled an "exciting new era" for Bendigo Telco.

"The bringing together of two organisations like MGR IT and Bendigo Telco that have a strong connection in our communities and proven delivery experience is a significant milestone for our business and positions us well for the future."

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