News and Announcements
5G Networks Acquires APTel
- Published March 19, 2018 12:00AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
KEY TAKEAWAYS:
- 5G Networks proudly announced its plans to acquire another Melbourne based service provider named APTel for $6 million.
- APTel was initially set up by Deague to meet its internal requirements, and amount to be paid for the acquisition will be split into two halves wherein the first would be dispensed in September and the remaining on completion.
- Managing Director of 5G, Joe Demase, regarded the deal as being lucrative for the company since it had already sparked a rise in its revenue and EBIDTA and also served to expand its customer base.
Melbourne-based 5G Networks recently announced that it was looking forward to paying $6 million in a bid to acquire another Melbourne based firm APTel. Courtesy of this acquisition, 5G
Networks will have gained roof-top access to the existing properties of APTel and will also ensure network access and set up IT infrastructure for any properties that come up in future.
While 5G Networks is a public-listed service provider for business broadband, APTel specializes in providing services for cloud communications, voice and data to corporate and commercial
enterprises. Established by Deague Group, APTel was originally meant as an internal solution provider for the company’s network and telco requirements of its various properties. Its client list
includes prominent names such as Telstra, Broadsoft, Yealink, AAPT and so on.
Acquisition amount of $6 million is four times the EBIDTA wherein half would be paid by September 2018 and the other half on completion. To fund the acquisition, 5G Networks raised a
capital of $3.5 million through the issue of almost 6 million new shares priced at 60 cents each. This acquisition is second for the broadband provider, the first being Enspire that was acquired
towards the end of 2017.
Joe Demase, managing director of 5G Networks, said that the company’s main focus would be to integrate not just the business but also employees of APTel. He went on to observe that thanks to the acquisition, 5G now enjoyed enhanced revenue and its EBIDTA levels had also jumped, not to mention the expansion of its customer base as far as its core services are concerned.
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