Superloop strikes agreement to acquire NuSkope
Superloop has struck a AUD$10 million deal to buy Australia-based fixed wireless service provider NuSkope.
The deal will see dark fibre provider Superloop pay AUD$7 million in cash and $3 million in shares to acquire NuSkope, which operates in South Australia and was set up in 2007.
Superloop CEO Bevan Slattery said the deal would expand the company’s presence in the region by giving it ownership of existing wireless infrastructure, along with a network coverage service qualification tool and a CRM database.
“We are very excited to be working with NuSkope and expanding our reach in the strategically important Adelaide market,” Slattery added. “This acquisition will drive Superloop’s capability to address the increasing appetite for wireless connectivity solutions and compliment the BigAir wireless infrastructure acquired in late 2016.
“The NuSkope team has built a leading position in the South Australian market and has developed impressive systems and processes which will enhance our ability to service our wholesale customers and strengthen our ability to compete and meet growing customer demand across the region and in new areas.”
Superloop said the acquisition will offer a number of strategic benefits for the firm, including giving it access to technology, software and systems that will add significant value to the combined group and assist in further strengthening its wholesale access offerings to the market.
The deal, which is subject to due diligence and regulatory approvals, is expected to be completed in October 2017.
Michael Blake, Chief Technology Officer and Co-Founder of NuSkope, said “We are excited to be a part of the Superloop Group and continue the expansion of our network. Combining Superloop Group’s infrastructure, including BigAir, will help us accelerate into more markets across Australia.”