Superloop will acquire GX2, a provider of Wi-Fi and managed network services to venues.
GX2 has offices in Australia, New Zealand, Fiji, the United States, and the UK, and provides connectivity to hotels, resorts, student accommodation, schools and serviced apartments.
The ASX-listed Superloop will fork out $6 million in cash as well as $4 million in shares to acquire GX2 Holdings and its subsidiaries. GX2 had revenue of $9.2 million in FY17.
“Over the past 10 years GX2 has developed one of the most comprehensive software platforms for managing large scale guest Wi-Fi networks with an emphasis on providing granular control and visibility to operators of hotels, student accommodation, parks almost anywhere where there is guest Wi-Fi access,” Superloop CEO Bevan Slattery said in a statement.
GX2’s software platform provides a managed service for more than 200 customers at 350 sites, Superloop said. It is backed by three call centres with a ‘follow the sun’ support model.
The acquisition presents three main opportunities for Superloop, Slattery said: To “support and accelerate the GX2 platform further internationally”; to leverage the platform in existing community broadband locations; and to “develop new leading edge offerings in combination with the Superloop network across Asia”.
The deal follows two other wireless-focussed acquisitions by Superloop. Last year the network operator acquired fixed wireless provider Big Air.
Superloop said it would “hyperscale” BigAir’s wireless and “fibre extender capability” and build a low-cost access network delivering gigabit+ speeds.
In September this year Superloop acquired South Australian-based NuSkope, which provides fixed wireless services to homes, schools and businesses.
NuSkope has its own wireless network infrastructure in Adelaide and around 10,000 customers and 29 full-time staff members.
The acquisition of NuSkope “will drive Superloop’s capability to address the increasing appetite for wireless connectivity solutions and complement the BigAir wireless infrastructure acquired in late 2016,” Slattery said when the acquisition was announced.
The Superloop CEO said that within the “next few years” he expected NuSkope to become a national provider.
Superloop today also announced that BigAir had signed agreements with three student accommodation providers.
BigAir will provide managed Internet services at 12 sites, covering 8100 residents under the five year contracts.