Superloop to acquire Acurus for AU$15m

Superloop to acquire Acurus for AU$15m

Paul Tyler -Superloop.jpg

Superloop has announced its intention to acquire Melbourne-based white label and technology consultancy firm, Acurus for AU$15 million.

Under the terms of the conditional sale and purchase agreement, the deal includes the Acurus Anex white label platform and the company's managed services provider business.

"We're excited by this acquisition as it expands Superloop’s addressable market beyond traditional telcos and into the growing domain of non-traditional retailers," said Paul Tyler, managing director and CEO of Superloop.

"With this newly acquired white label telco capability, brands from any industry who are looking to broaden their core offering with turnkey telco services will have a great option to consider.

Acurus provides technology solutions to Australian businesses, while its white label platform and services support the Internet offerings behind major brands such as EnergyAustralia and OfficeWorks.

Its other brands include Bakers Delight, Zen Energy, Roy Morgan and Hume Bank have accessed Acurus’ managed services offerings, SD-WAN and Cyber Security Services.

"Customers will have access to the well-regarded expertise of the Acurus team for integrated white label services combined with Superloop's high-speed infrastructure-on-demand platform and network assets," added Tyler.

"It's the next step in our strategy of growing our portfolio and customer base across all three of our customer segments, to monetise the core Superloop infrastructure."

Through the acquisition, customers on the Acurus white label platform will be able to use Superloop’s network and nbn connectivity.

As a result, Superloop expects that the acquisition will accelerate growth by expanding Acurus' white label services.

"Our purpose remains to enable better internet through competition. The challenger segment in the telco industry continues to grow towards the 30% market share vision we outlined to investors in November 2021. We intend to continue to be a major catalyst of that growth," concluded Tyler.

Superloop's AU$15 million payment will comprise AU$12 million in cash and AU$3 million in Superloop shares.

Subject to customary conditions, the sale is expected to complete by the end of July 2022.

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