Superloop (ASX:SLC) completes acquisition of Acurus – The Market Herald

0

Subscribe

Be the first with news that moves the market

  • Superloop (SLC) Completes Acquisition of Technology Services Company Acurus
  • The acquisition is part of the company’s strategy to expand its channels to market and further develop as a major connectivity provider.
  • Consideration for the acquisition is $15 million, including $12 million in cash and $3 million in Superloop stock
  • Superloop Managing Director and CEO Paul Tyler says the acquisition is a clear opportunity to expand its ability to drive incremental change in its end-user customer base
  • Superloop shares are up 6.82%, trading at 70.5 cents at 3:48 p.m. AEST

Superloop (SLC) has completed the acquisition of technology services company Acurus.

The acquisition is part of the company’s strategy to expand its channels to market and further develop as a major connectivity provider.

Consideration for the acquisition is $15 million, comprising $12 million in cash and $3 million in Superloop stock.

Subject to the achievement of certain ambitious targets related to earnings before interest, taxes, depreciation and amortization (EBITDA) performance and operational milestones, the sellers will be entitled to additional payments.

Payouts are capped at $20 million, including up to $4 million in Superloop stock.

Superloop Managing Director and CEO Paul Tyler said this is a clear opportunity to expand the company’s ability to radically change its end-user customer base across a wide range of major brands. non-telecoms.

“The acquisition adds a powerful new channel to our wholesale ambitions and our growth trajectory as a telecommunications challenger in Australia,” he said.

“The Acurus team will continue to focus on exciting growth of its white label subscriber base and, with Superloop’s network supporting the performance of the white label offering, we see the potential for immediate accelerated growth.”

Acurus’ white label platform and services support internet offerings from leading brands such as EnergyAustralia and OfficeWorks.

Other home brands, including Bakers Delight, Zen Energy, Roy Morgan and Hume Bank, are customers of Acurus’ managed service offerings, including SD-WAN and Cyber ​​Security Services.

Superloop shares rose 6.82%, trading at 70.5 cents at 3:48 p.m. AEST.

Share.

Comments are closed.