5GN (ASX:5GN) set for $3 million Intergrid deal

Company News

by Rachael Jones

5GN (ASX:5GN) has entered into an agreement to acquire 100 per cent of Intergrid Group Pty Ltd, a leading dedicated cloud provider.

It’s a bare metal cloud, that’s when a computer executing instructions directly on logic hardware without an intervening operating system.

The purchase price is $3 million, representing 4 times normalised EBITDA; payable $2.5M in cash and $0.5 million in 5GN shares.

The Intergrid cloud supports high-speed streaming to households, power Ag-Tech Internet of Things devices on farms, support critical government applications and everything in between.

Shares in 5GN (ASX:5GN) are trading 4.4 per cent higher at $1.29.
 

Are you a 708 sophisticated investor?

A sophisticated investor is defined under Section 708 of the Corporations Act (net assets of $2.5 million or annual incomes in excess of $250,000).

They are eligible to receive information regarding wholesale investment opportunities that are not available to regular or retail investors.

Please subscribe if you would like to be alerted to these types of opportunities.