Over the Wire to acquire Spiderbox assets

Company News

Over the Wire Holdings Limited (ASX:OTW) has entered into a conditional business sale to acquire the assets of Access Wireless and Cable Pty Limited.
 
Primary assets include the fibre network of Brisbane Technology Park and its clients. 
 
The total consideration payable will be $700,000 if all conditions are met and will be fully funded via existing cash reserves.
 
The acquisition is expected to contribute $1.2 million on an annualised basis with EBITDA in-line with current Over the Wire EBITDA margins. 
 
Over the Wire recorded a net profit of $1.42 million at 31 December 2015.

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