Vocus Communications Limited (ASX:VOC) has inked a deal to buy New Zealand fibre provider FX Networks for an enterprise value of $107.7 million.
The telecommunications provider says its new acquisition owns a unique and high quality fibre optic network covering both the North and South Islands of New Zealand. FX Networks also boasts 365 customers including 43 of the top 100 companies in New Zealand.
Vocus CEO James Spenceley says the acquisition adds the missing fibre piece to the company’s existing data centre and internet investment in New Zealand.
Vocus expects the transaction to be tied up by the beginning of the second quarter of 2015.
Vocus Communications reported a net profit of $5.1 million in the first half of the 2014 financial year.
