Macquarie Telecom Group to Rebrand as Macquarie Technology Group
Macquarie Telecom Group, a leading Australian technology company, is set to undergo a significant transformation. The group, currently listed under 'Diversified Telecom Services' in the S&P index, will apply to shift to the 'Internet Services & Infrastructure' category. Shareholders will vote on this change at an Extraordinary General Meeting on May 22, 2023.
The proposed name change to Macquarie Technology Group reflects the company's evolution into a digital infrastructure business. This shift is driven by a strategy that has delivered seven consecutive years of EBITDA profit growth. The group's customers, including the Australian Tax Office, BPAY, and two of the world's three largest cloud companies, value Macquarie's single accountability for cyber security, cloud performance, and secure data centres.
Macquarie's impressive performance is also evident in its financials. The company's share price has surged by over 500% in the last decade, and its market capitalisation now exceeds $1 billion. This growth is a testament to the group's high customer satisfaction rate, with an NPS score of +79.
Macquarie Telecom Group's proposed name change to Macquarie Technology Group signals its commitment to its digital infrastructure future. With a strong track record, robust financial performance, and a blue-chip customer base, the group is well-positioned for continued growth. Shareholders will have the final say on this change at the upcoming Extraordinary General Meeting.
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