Superloop Completes $35m acquisition of VostroNet
- Superloop (SLC) completes the acquisition of VostroNet for $35 million
- The consideration includes a $24.5 million cash payment and $10.5 million in Super loop shares, funded from the company’s existing cash reserves
- Subject to meeting certain take-up targets, the vendors may also receive earn-out payments of up to $15 million in cash
- SLC MD and CEO, Paul Tyler says he’s looking forward to “strengthening our position” in providing net broadband services to the student accommodation, multi dwelling units and FTTP markets
- Shares in the company are up 4 per cent, trading at 78 cents as of 2:40 pm AEDT
