Superloop to acquire APEXN
Asia-Pacific infrastructure provider Superloop has agreed to acquire Australia-based APEXnetworks (APEXN) for $5.8 million.
APEXN provides networking solutions and managed services to wholesale and channel partners, and the acquisition is expected to help Superloop better serve its wholesale and channel customers via APEXN’s IT and product platforms.
“APEXN’s platform includes key systems from service qualification tools through to ordering, provisioning, billing, support and network management,” said Daniel Abrahams, Superloop CEO.
“This is particularly important as Superloop expands its fibre network in Singapore under Project Red Lion.”
APEXN will continue to operate in Australia as a brand within the Superloop group, and co-founders Ryan Crouch and Mathew Greg will take on the roles of chief technology officer at Superloop and general manager of APEXN, respectively.
“[We] remain committed to the ongoing implementation and development of APEXN services from within the Superloop group, and along with the APEXN team, look forward to contributing to the ongoing success of the Superloop group,” Crouch and Gregg said in a statement.,
The deal consists of $3.8 million in cash and $2 million in Superloop scrip, and is expected to complete on October 16, 2015.