SUPERLOOP ACQUIRES SOUTH AUSTRALIAN ISP

SUPERLOOP Limited (ASX: SLC) is set to buy out Adelaide-based internet service provider (ISP) NuSkope Pty Ltd and associated entities.

The Brisbane-based fibre network giant will acqure NuSkope for $7 million in cash plus $3 million in SLC shares at an issue price of $2.457. The cash component will be funded from Superloop's cash reserves and available debt facility.

Bevan Slattery (pictured), CEO of the Superloop Group, says the acquisition includes a number of strategic assets such as an existing wireless network infrastructure and an energetic workforce with vast experience in the wireless internet sector.

"We are very excited to be working with NuSkope and expanding our reach in the strategically important Adelaide market," says Slattery.

"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." Read more

David Simmons - Business News Australia - 11 Sep 2017