Bevan Slattery-chaired telco infrastructure play Superloop is set to acquire privately-owned internet service provider Exetel.
The acquisition would more than quadruple Superloop’s home broadband subscriptions.
Superloop is set to acquire retail service provider Exetel for $110 million in cash and shares, marking further consolidation in the Australian broadband market.
The purchase will bring 110,000 consumer and business customers onto Superloop’s books.
Superloop said its offer comprised of $100 million cash - to be raised - and $10 million in shares.
Once the [sic] completes, Exetel will become part of Superloop, thereby becoming part of the publicly-traded company.
Both brands will remain in place, with Exetel customers continuing to be supported by its own team.