Home & Office

Superloop coughs up AU$1.5m for SkyMesh fixed line NBN customers

Superbb to gain more than 10,000 customers for platform due to go live in October.
Written by Chris Duckett, Contributor

Superloop has announced the purchase of more than 10,000 customers that make up the fixed-line footprint of SkyMesh, for a price of AU$1.5 million.

The company said the former SkyMesh customers would be moved onto the new platform for Superloop's broadband business, Superbb, that is due to appear in October.

"This is an attractive acquisition, kickstarting our position in the retail NBN marketplace and complimenting our NuSkope acquisition late last year," Superloop founder and CEO Bevan Slattery said.

Slattery is set to step aside as CEO on July 1.

In October last year, Superloop picked up South Australia-based fixed wireless internet service provider NuSkope and its associated entities RA-WIFI and RA-ADSL for a total of AU$10 million.

At the time, Superloop said NuSkope generated customer revenue of over AU$7.1 million for the 2017 financial year, with adjusted earnings before interest, taxation, depreciation, and amortisation (EBITDA) of over AU$2.4 million.

Superloop further said on Tuesday that it has rolled out 10 or 100Gbps backhaul to NBN's Points Of Interconnect, except in Hobart and Launceston.

In February, Superloop announced it had posted AU$56 million in revenue for the half-year to December 31, a AU$47 million increase on the same time last year, with underlying EBITDA reported as AU$12.5 million, a jump of AU$14.7 million.

Net profit after tax came in at AU$1.8 million against a AU$2 million loss year-on-year.

Broken down by company segment, its Superloop connectivity business reported EBITDA of AU$9.5 million on revenue of AU$28 million, Superloop managed services made AU$3 million in EBITDA from AU$18 million of revenue, the Superbb broadband business reported AU$9.8 million in revenue and AU$2.5 million in EBITDA, with the Corporate segment reporting EBITDA of minus AU$3.2 million from revenue of a mere AU$190,000.

Related Coverage

Editorial standards