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Field Solutions Holdings Acquires TasmaNet

• Annualised revenues more than $19M
• Forecast transaction EBITDA of $1.25M ($2.5M+ including synergies)
• Initial consideration circa $13M on a debt free cash free basis ($12M Net)
• Additional earn out consideration of up to $2M
• Delivers Tasmania’s largest fixed wireless network
• Delivers software automated cloud computing and managed services capability
• Delivers substantial revenue from Government and Enterprise clients across Tasmania and Southern Queensland

Field Solutions Holdings Limited (ASX: FSG), Australia’s leading rural and regional telecommunications carrier, is pleased to announce it has entered into a binding share sale agreement to purchase TasmaNet Pty Ltd (TasmaNet). A transformational acquisition for FSG, TasmaNet is EBITDA accretive, and will deliver strong complementary revenues and operational synergies aligned with FSG’s business strategy.

“TasmaNet represents a hand-in-glove acquisition for FSG,” said Andrew Roberts, CEO FSG. “Both organisations operate business grade fixed wireless networks in their respective territories. TasmaNet capabilities augment and accelerate the delivery of FSG’s Regional Australia Network (RAN) as it constructs sixteen new networks over the next two years. This acquisition provides additional scale, reach and depth to deliver and operate our networks,” he continued.

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