Uniti Wireless will buy Queensland broadband provider Pivit
Uniti Wireless has announced it will buy a Queensland broadband provider in its second takeover move since listing.
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Uniti Wireless has announced it will buy a Queensland broadband provider in its second takeover move since listing.
The South Australian ISP said it would pay about $450,000 for Pivit, which would deliver earnings per share accretion of greater than 20 per cent by next financial year. The acquisition would be paid for in cash in agreed tranches, concluding 150 days after binding transaction agreements are executed.
Uniti listed on the ASX in February and has wasted no time going on the acquisition trail, announcing late last month it had put a bid to Spirit Telecom to buy that company.
Spirit rejected that bid and announced it was pursuing its own takeover of another company. Uniti said it expected the Pivit transaction to be finalised on or before the end of the month.
“All acquired customers will be fully interconnected to UWL’s established wholesale partner network, with negligible associated overhead, thus delivering a material earnings contribution to UWL,’’ the company said.
Uniti shares were trading 7 per cent higher at 53.5c.
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