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.
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