On Thursday, it emerged that two major Australian SMM providers are moving their services to a new provider.
The Irish Independent has learned that the two firms, which were both based in the United Kingdom, are one of the first Australian companies to be sold to a foreign company.
The announcement came on the same day as another Australian SMMs provider, Vodafone, announced it would be shutting down in the coming months, as it shifts its focus to Europe.
This follows a series of other recent moves in Australia.
In June, Vaxion Communications Group and its Australian subsidiary, SES, announced plans to shutter their businesses.
The company said it had “committed to closing our doors and investing in new business opportunities” in Australia and abroad.
In October, a new operator, C-link Networks, was announced.
The Australian government has been criticised for being too slow to deal with the migration of SMMs.
In April, a report by the independent consumer group Choice found that Australia was one of only three countries in the world that did not have “an effective mechanism to restrict the entry of new entrants to the SMM market”.
The report, by Choice and the Australian Institute of Pharmaceutical Science, called for a “sensible” ban on new entrants into the SMMs market.
Choice called for Australia to ban entry of foreign companies into the industry.
On Tuesday, a joint statement from the two companies said that they were committed to continuing to work with other SMM companies to expand the Australian market and the availability of SMM services in Australia through new entrants.
However, the statement said they would be “disappointed” if the government decided to ban new entrants from entering Australia.
Choice said it was “extremely disappointed” to see the Government “imposing a new set of barriers” on the entry to the market by new entrants and that the Government was failing to recognise that the market had changed.
The new entrants are expected to be a group of foreign operators.
The two companies, Vectra and Vodacom, will continue to operate in Australia under the existing name.
The SMM industry is booming in Australia, with more than $50 billion in annual revenue, according to the Australian Bureau of Statistics.
In the first six months of 2017, the SMMM industry accounted for more than half of all the industry revenue in Australia of over $30 billion.