Superloop will pay $35 million in cash and shares to purchase VostroNet, a provider of fibre and wireless networks.
Multi-dwelling unit (MDU) connectivity using a combination of fibre connectivity and wi-fi distribution, as well as fibre connections to broadacre developments, is the core business of VostroNet.
In addition to providing FTTP to Billbergia, CBUS, and Consolidated Properties developments, the firm names UniLodge, Iglu Student Accommodation, Queensland University of Technology, and Sunshine Coast Council as some of its important wireless customers.
Superloop stated in a regulatory statement that the acquisition will expand its nationwide coverage to include about 40,000 student bedrooms in a market that has “now recovered to its pre-Covid levels.”
The acquisition will also enable Superloop to pursue the build-to-rent, broadacre, and MDU markets by bringing FTTP solutions to the company’s OnNet Smart Communities.
Superloop anticipates that the transaction will be finished towards the end of 2022.
Superloop shares make up the remaining $24.5 million of the $35 million price tag.
Exetel and Acurus were previously acquired by Superloop in 2021 and earlier this year, respectively.
