Fibre network operator Superloop is to acquire Melbourne-based technology firm Acurus for a total of $15 million in order to expand its broadband relationships and grow its subscriber base.
Acurus provides a range of services, including its white label internet service provider (ISP) platform, Anex, which is described by the firm as ISP-as-a-service, available in the form of a pre-built product or a newly-designed product within a six month time frame.
In addition, it also provides services support, managed services, cyber security and threat management, strategy consulting, project deployment, networks and network aggregation, application development and platforms, clouds and hosted services and maintenance, monitoring and support.
Its ISP services have been previously used to power internet offerings provided by Energy Australia and Officeworks. Additionally, it also has worked with Bakers Delight, Zen Energy, Roy Morgan and Hume Bank on other projects in the past.
If successful, the deal will see Acurus acquired for $12 million in cash and $3 million in Superloop shares, includes its managed services provider (MSP) business and is expected to be completed by July 2022.
"We're excited by this acquisition as it expands Superloop’s addressable market beyond traditional telcos and into the growing domain of non-traditional retailers,” said Superloop managing director and CEO Paul Tyler.
“With this newly acquired white label telco capability, brands from any industry who are looking to broaden their core offering with turnkey telco services now have a great option.
"Customers will have access to the well-regarded expertise of the Acurus team for integrated white label services combined with Superloop's high-speed infrastructure-on-demand platform and network assets.”
Tyler added that the acquisition was the next step in Superloop’s strategy of growing its portfolio and customer base to monetise the fibre network operator’s core infrastructure.
He also said the sales of Superloop’s Hong Kong network and parts of its Singapore network, which took place in October 2021 for a combined $140 million, released capital that it will deploy in organic growth and acquisitions, such as the purchase of Acurus.
This deal comes close to a year after it struck a deal to acquire ISP Exetel for a total of $110 million back in June 2021. That acquisition was partially responsible for substantial growth in its most recent half-year revenue, which soared by 125 per cent year-on-year to $119.8 million.