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MarketScreener Homepage  >  Equities  >  AUSTRALIAN SECURITIES EXCHANGE LIMITED  >  5G Networks Ltd    5GN   AU0000005GN9

5G NETWORKS LTD

(5GN)
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5G : acquires communications provider APTel in $6 million deal

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03/13/2018 | 09:17am EST

5G Networks Ltd has acquired Melbourne-based communications service provider Asia Pacific Telecommunications Group (APTel) for total consideration of $6 million.

The acquisition increases 5Gs revenue and EBITDA levels to give us scale and cashflow, said managing director Joe Demase.

It also provides access to a substantial new customer base we can use to leverage our core offerings, he said.

Raising capital to support acquisition

5G, a high-speed broadband service and cloud infrastructure company, is raising capital to support the acquisition and intends raising up to $3.5 million at 60 cents per share.

The managing director said: The integration of the APTel service suite with our own offering delivers a powerful business solution that can meet the modern demands of the mid-tier business market for broadband and cloud services.

Our immediate focus will be on the successful integration of the APTel business and personnel and delighting the APTel customer base with the high-quality services the combined APTel 5G operation will deliver.

APTel has annual revenue of more than $6.3 million across more than 800 Melbourne residential/hotel and business customers.

(c) All KUNA right are reserved 2018. Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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Managers
NameTitle
Joseph Demase Managing Director & Director
Say Chuan Cheok Independent Chairman
Geoffrey Nicholas Chief Financial Officer & Director
Joe Gangi Independent Director
Garry White Director & Sales Director
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