Aussie Broadband to acquire Over the Wire for AUD344m

6 Dec 2021

Victoria-based Aussie Broadband has entered into a ‘Scheme Implementation Deed’ with Queensland-based Over the Wire (OTW), under which the larger ISP has agreed to acquire all of the issued shares of OTW. The deal has an implied value of AUD5.75 (USD4.0) per share, a total equity value of AUD344 million and a total enterprise value of AUD390.4 million. OTW’s directors have unanimously recommended that the company’s shareholders vote in favour of the scheme.

Aussie Broadband currently serves 410,000 residential subscriptions and 28,000 B2B clients, while OTW delivers services to 16,000 business, enterprise and government customers.

Australia, Aussie Broadband, Over the Wire (OTW)