Superloop (ASX:SLC) - Managing Director and CEO, Paul Tyler
Managing Director and CEO, Paul Tyler
Source: Superloop
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  • Superloop (SLC) completes the acquisition of technology services company Acurus
  • The acquisition continues the company’s strategy of expanding its channels-to-market and further building scale as a major connectivity provider
  • Consideration for the acquisition is $15 million, comprising of $12 million in cash and $3 million in Superloop shares
  • Superloop Managing Director and CEO Paul Tyler says the acquisition is a clear opportunity to expand its ability to drive step-change of its end-user customer base
  • Shares in Superloop are up 6.82 per cent, trading at 70.5 cents as of 3:48 pm AEST

Superloop (SLC) has completed the acquisition of technology services company Acurus.

The acquisition continues the company’s strategy of expanding its channels-to-market and further building scale as a major connectivity provider.

Consideration for the acquisition is $15 million, comprising of $12 million in cash and $3 million in Superloop shares.

Subject to meeting certain stretch targets related to earnings before interests, taxes, depreciation and amortisation (EBITDA) performance and operational milestones, the vendors will be entitled to earn-out payments.

The payments are capped at $20 million, including up to $4 million in Superloop shares.

Superloop Managing Director and CEO Paul Tyler said it is a clear opportunity to expand the company’s ability to drive step-change in its end-user customer base across a broad range of large-scale non-telco brands.

“The acquisition adds a powerful new channel to our wholesale ambitions, and our growth trajectory as Australia’s challenger telco,” he said.

“The Acurus team will continue to focus on the exciting growth of their white-label subscriber base and, with Superloop’s network underpinning the performance of the white-label offering, we see immediate accelerated growth potential.”

Acurus’ white-label platform and services support the internet offering behind major brands such as EnergyAustralia and OfficeWorks.

Other household brands, including Bakers Delight, Zen Energy, Roy Morgan and Hume Bank, are customers of Acurus’ managed services offerings including SD-WAN and Cyber Security Services.

Shares in Superloop were up 6.82 per cent, trading at 70.5 cents as of 3:48 pm AEST.

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