Aussie telco MNF inks deal to buy Singapore’s SuperInternet

21 Jun 2018

Australian telecoms firm MNF Group (whose brands include MyNetFone, Symbio Networks and Pennytel) has struck a deal to acquire Singapore’s SuperInternet Group for a consideration of around SGD2 million (USD1.47 million), The Business Times reports citing an announcement from the ASX-listed group yesterday (20 June). It is understood that the deal comprises: SuperInternet’s domestic fully interconnected voice network infrastructure; full national interconnection with NetLinkTrust (the Singapore NBN fibre wholesale company); extensive domestic dark fibre transmission within the Singapore Central Business District; and specialist staff with experience in marketing, sales and operations in the Singapore market.

SuperInternet, a niche facilities-based operator (FBO), generates annual revenues of approximately SGD1.6 million and currently breaks even on an EBITDA basis, MNG Group reports, adding that the acquisition of SuperInternet will provide it with additional capabilities to address the Singapore market, which will provide ‘increased sales potential with existing and new wholesale customers’. The transaction is being funded via internal resources, says MNF Group chief executive Rene Sugo, and is expected to provide the Aussie group with a ‘rapid entry’ into the Singapore market, as part of its Asian expansion strategy.

MNF hopes to finalise the takeover on or before 31 July 2018, subject to it clearing all relevant regulatory approvals.

Australia, Singapore, MNF Group (formerly MyNetFone), Supernet (Superinternet Access)