FlexiGroup, which powers the leasing offers of big retailers such as Harvey Norman, said its purchase of New Zealand IT equipment financier Telecom Rentals for $NZ106 million on Wednesday will help its growth in the education sector in Australia. FlexiGroup's share price spiked more than 4 per cent to end the day at $3.65 after it announced the acquisition of the financier of telecommunications equipment leases to the commercial and government sectors from Spark New Zealand Group - formerly Telecom New Zealand.