Australian-listed telco and Internet service provider Spirit Telecom is undertaking a $23.2 million capital raising to assist in the acquisition of three IT and telco companies that it says will increase recurring revenues by 60%.

Spirit Telecom (ASX:ST1) says it will achieve an immediate geographic expansion across Sydney Metro & Central NSW, with the acquisition of the three IT Managed Service providers – Reliance IT, Beachhead Group, and Altitude IT – while accelerating the growth of the Spirit Solution Partners network…

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