Superloop has acquired Adelaide specialist wireless broadband network provider NuSkope for a total consideration of $10 million.
Nuskope offers high-speed broadband connections to residents, businesses and schools across the greater Adelaide regional area, typically covering black spots.
The deal comprises $7 million in cash plus $3 million in Superloop shares at a price of $2.457 each. The acquisition also includes the purchase of two associated entities, RA-WIFI and RA-ADSL.
Superloop founder and chief executive Bevan Slattery said the acquisition would speed up his company's expansion in South Australia, adding an existing wireless network in the state, a sophisticated network coverage service qualification tool and a valuable CRM database.
"The NuSkope team has built a leading position in the South Australian market and has developed impressive systems and processes which will enhance our ability to service our wholesale customers and strengthen our ability to compete and meet growing customer demand across the region and in new areas," he said.
Slattery added that NuSkope would complement BigAir's wireless infrastructure, which Superloop acquired last year. The addition of BigAir not only expanded Superloop's network, but added managed services capabilities to the dark fibre provider. Superloop now offers a diverse range of services, from student wireless to data centre integration to pan-Asian interconnnection services.
NuSkope turned over $7.1 million in revenue in the 2017 financial year, up from $4.1 million in the previous year, along with EBITDA of $2.4 million.
NuSkope co-founder and CTO Michael Blake said: "We are excited to be a part of the Superloop group and continue the expansion of our network. Combining Superloop group's infrastructure, including BigAir, will help us accelerate into more markets across Australia."
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