Vocus Communications Limited
(ASX:VOC) will acquire Nextgen Networks for an upfront payment of $807 million, and deferred consideration of $54 million.
Nextgen is one of Australia’s largest national fibre communication networks.
As part of this deal, Vocus will also be buying two projects to build submarine communication cables. One of them is the North West Cable System (which will connect the sea beds between Darwin and Port Hedland). The other is the Australian Singapore Cable (which will connect Jakarta, Singapore and Perth).
This transaction is expected to complete in 3 months’ time, and is subject to ACCC clearance.
Vocus reported a net profit of $24.2 million at 31 December 2015.
