MNF begins SE Asia expansion with $1.5m Singapore acquisition
Australian carrier MNF has spent $1.5 million on Singapore’s SuperInternet as the first part of a planned expansion into south-east Asia.
SuperInternet is a facilities-based operator with dark fibre in Singapore’s central business district and a fully interconnected voice network infrastructure.
“This is the start,” MNF’s CEO Rene Sugo told Capacity. “We have domestic networks in Australia and New Zealand – and now Singapore.” He is looking “at other well-developed markets like Hong Kong, Taiwan, South Korea and others”, he added.
In 2016 MNF – formerly MyNetFone – bought a global network, TNZI, the former Telecom New Zealand International. “It is all complimentary,” Sugo told Capacity.
MNF described the SuperInternet business as “a niche operator generating around S$1.6 million [US $1.17 million] in revenue” and said it “is currently EBITDA break even”, adding that it has “potential for new revenues in the near future”.
MNF said it plans to upgrade the existing network infrastructure with its software ecosystem, “enabling the full suite of MNF wholesale, enterprise and government products to be delivered domestically, and globally”.
The company expects the acquisition to be complete by the end of July 2018.
MNF – which has a point of presence in Singapore as part of its TNZI operation – already has a relationship with SuperInternet: it provides enablement, networking and numbering services in Australia and New Zealand under the group’s domestic and global wholesale segments.
“This acquisition provides the group with additional capabilities to address the Singapore market, which will provide increased sales potential with existing and new wholesale customers,” said MNF. “The company will also continue to invest in the enterprise and government sector in Singapore and deploy additional product capabilities into the market.”
Sugo said the acquisition will allow MNF “to replicate its highly successful Australian and New Zealand based next-generation high margin recurring revenues in this additional market for consistent long-term growth and innovation potential”.