Data and voice services provider Swoop Holdings Limited (ASX:SWP) has agreed to acquire Luminet Pty Ltd and Luminet Fibre Pty Ltd and the associated dark fibre network.
Swoop will pay:
- $5.58 million in cash on completion (subject to customary net debt and working capital adjustments);
- $1.6 million to be satisfied by the issue of fully paid ordinary shares of Swoop at completion at the 30 day VWAP of Swoop shares prior to Completion; and
- $820,000 to be paid 12 months after Completion (subject to any amounts withheld from this sum to pay for claims or adjustments under the agreement).
Acquiring Luminet’s dark fibre network is a great fast track for our investment in dark fibre. The 58km network covers many of Sydney’s most important interconnection points, data centres as well as Hyperscale facilities,” Swoop CEO, Alex West, said.
“Like our previous fibre acquisition, it is predominantly built in its own ducts, and with significantly larger fibre core counts presenting great opportunities for growth.
“As we saw from Vocus we started the fibre journey with roughly the same amount of cable on some of the same key routes that saw us grow into one of the largest fibre infrastructure providers in Australia. We are excited to bring together this asset along with one of Australia’s largest fixed wireless networks to continue to offer great solutions to our growing customer base.”
