You are here
Australian telecoms firm MNF to acquire Singapore's SuperInternet Group
AUSTRALIAN telecommunications firm MNF Group has agreed to acquire Singapore-based SuperInternet Group for some S$2 million, it announced on Thursday.
The ASX-listed MNF Group expects the deal for the niche facilities based operator to be finalised once all customary regulatory approvals are received, which is expected before July 31, 2018.
MNF said SuperInternet's acquisition consists of:
- A Singapore domestic fully interconnected voice network infrastructure
- Full national interconnection with NetLinkTrust (the Singapore NBN fibre wholesale company)
- Extensive domestic dark fibre transmission within the Singapore CBD
- Specialist staff with extensive experience in marketing, sales and operations in the Singapore market
SuperInternet generates around S$1.6 million in revenue and currently breaks even on its earnings before interest, tax, depreciation and amortisation (Ebitda), Sydney-based MNF said, adding that acquiring SuperInternet will provide the group with additional capabilities to address the Singapore market, which will provide "increased sales potential with existing and new wholesale customers".
MNF Group's chief executive Rene Sugo said the acqusition - which will be funded through internal funds - provides MNF a "rapid entry" into the Singapore market and is part of its Asian expansion strategy.
"This will allow the company 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," he added.