Aussie Broadband to acquire telco assets of AGL Energy

Aussie Broadband has signed an agreement to acquire the telecommunications business of AGL Energy Limited (‘AGL Telco’), including its customer assets.

The acquisition will add an estimated combined 350,000 services - 218,000 NBN services and 144,000 mobile connections - to Aussie Broadband’s customer base, along with 46,000 voice services.

Under a long-term exclusive partnership agreement, AGL will continue to promote telecommunications services under the AGL brand, with the telecommunications services and customer experience provided by Aussie Broadband

The agreement is expected to deliver estimated revenue of approximately $235 million and underlying EBITDA of approximately $21 million in the 12 months following migration.

The acquisition is also expected to be Earnings per Share accretive in the first year following completion of migration of the existing AGL Telco customers to Aussie Broadband’s network which is expected to commence in Q1 FY27 and expected to be complete in H1 FY27

Aussie Broadband expects to grow AGL Telco connections (excluding voice services) to more than 500,000 over five years.

Following the migration of AGL Telco and More/Tangerine services to the Aussie Broadband network, Aussie Broadband is expected to become the third largest NBN service provider, with broadband connections expected to exceed 1.25 million.

In addition, Aussie Broadband is expected to service almost 400,000 mobile connections across its segments.

AGL is one of the largest energy retailers in Australia, currently supplying around 4.5 million energy and telecommunications services across residential, business and wholesale customers.

Through the acquisition of Southern Phone in 2019, and since launching its own broadband and mobile products in 2020 and 2021 respectively, AGL Telco has grown its services (inclusive of voice services) to over 400,000 as at 31 December 2025. 

Aussie Broadband Group CEO Brian Maher said to be chosen by one of the largest and most trusted energy providers in Australia as their partner in connectivity is a further testament to the outstanding quality and reliability of the company's network and the service it provides to partners and customers.

“This transaction provides a significant boost to our connections and EBITDA from 2H FY27, and we look forward to working with AGL to drive further growth for both parties and deliver a great experience to our new AGL Telco customers," he said.

“FY27 is set to be a year of significant growth for Aussie Broadband as we migrate approximately 350,000 broadband and mobile connections from AGL in addition to the 290,000 More/Tangerine NBN connections to be migrated in the current financial year, becoming the third largest NBN service provider."

AGL’s MD and CEO Damien Nicks added that the company has been "immensely impressed" with Aussie Broadband’s strong focus on reliability and quality of the network.

"We want to provide the best possible experience to customers, and we are confident that Aussie Broadband can deliver exactly that across broadband, mobile and voice services," he said. 

The acquisition is expected to complete in June 2026.

Aussie Broadband’s FY25 results revealed a group revenue of over $1.1 billion, up 18.7% compared to FY24’s $999 million result.