Australian fibre infrastructure provider Superloop has entered into an agreement to acquire telecoms operator Optus’ subsidiary Uecomm, including its network of fibre assets.
According to Superloop, the acquisition for A$17.5 million will add over 2,000 kilometres of high-capacity fibre assets to its network, including 800 kilometres of owned duct.
The fibre network is located across Sydney, Melbourne and Brisbane-Gold Coast central business districts and metropolitan areas, and will provide access to more than 1,900 buildings and
approximately 50 data centres.
Superloop says the purchase of the fibre assets will be funded by cash and existing debt facilities and is expected to complete in early 2025.
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The acquisition will increase the size of Superloop’s network in key metropolitan areas, complementing its existing network and expanding our high-speed data and internet service offering across its three segments, the company stated in its announcement to the market.
“The location of the assets also boosts our Smart Communities ambitions, lowering capex connections to new buildings and broadacre developments.” Superloop CEO Paul Tyler said.
According to Superloop, while the initial contribution to EBITDA will be neutral in the first year, the acquisition provides the company greater control over a broader fibre network and will result in longer term cost and revenue synergies.
"Superloop will continue to consider other opportunities to support the growth ambitions laid out in its three-year ‘Double Down’ strategy," Superloop stated in its announcement.