REG - Bigblu Broadband PLC - Acquisition

Bigblu BroadbandAnnouncement

02/02/2023 07:00

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RNS Number : 6621O  Bigblu Broadband PLC  02 February 2023

  Bigblu Broadband plc

("BBB" or the "Company" or the "Group")

Completes Acquisition of Uniti Satellite Customer base

 

Bigblu Broadband plc (AIM: BBB.L), a leading provider of alternative superfast
and ultrafast broadband solutions throughout Australasia and the Nordics,
announces that its fully owned Australian business, SkyMesh PTY LTD has
completed the acquisition of the Satellite operations of Harbour ISP PTY LTD,
a subsidiary of Uniti Group LTD in Australia (the "Acquisition"). The total
cash consideration paid on completion was AUD$4.72m (£2.7m) with a retention
of AUD$0.2m (£0.1m), to be paid March 2023 post reconciliation of customer
numbers.

The satellite operations being acquired currently consist of c.5.9k customers.
The customer base is being transferred to SkyMesh who will provide full
ongoing support services from its Australian Customer Engagement Centre. Uniti
will continue to provide services for up to three months post completion to
ensure a smooth transition of the customer base. The transfer of the customer
base is expected to be immediately earnings enhancing.

As announced on 5 December 2022, the Directors continue to believe that the
acquired operations are expected to generate annualised revenues of c.£2.5m
and EBITDA of c.£0.7m with positive cash generation, enabling the Group to
continue to reinvest and grow the business in the Australian market.

Andrew Walwyn, CEO of BBB plc, said: "We continue to believe that the
profitability of operations being acquired should improve under BBB's
ownership given the Group's operational gearing and economies of scale. The
board remains focused on creating significant shareholder value through the
rapid scaling of BBB's Australasian Operations. In addition, the Board is
continuing to explore all options to realise value for BBB shareholders from
SkyMesh, including a potential ASX listing of SkyMesh."

 

 For further information:

 Bigblu Broadband Group PLC                                      www.bbb-plc.com (http://www.bbb-plc.com/)
 Andrew Walwyn, Chief Executive Officer                           Tel: +44 (0)20 7220 0500

 Frank Waters, Chief Financial Officer

 finnCap (Nomad and Broker)                                      Tel: +44 (0)20 7220 0500

 Marc Milmo / Simon Hicks / Charlie Beeson (Corporate Finance)

 Tim Redfern / Harriet Ward (ECM)

 

About Bigblu Broadband plc

Bigblu Broadband plc (AIM: BBB.L), is a leading provider of alternative
superfast and ultrafast broadband solutions throughout Australasia and the
Nordics. BBB delivers a portfolio of superfast and ultrafast wireless
broadband products for consumers and businesses unserved or underserved by
fibre.

High levels of recurring revenue, increasing economies of scale and Government
stimulation of the alternative broadband market in many countries provide a
solid foundation for significant organic growth as demand for alternative
ultrafast broadband services increases around the world.

BBB's range of solutions includes satellite, next generation fixed wireless
and 4G/5G FWA delivering between 30 Mbps and 150 Mbps for consumers, and up to
1 Gbps for businesses. BBB provides customers a full range of services
including hardware supply, installation, pre-and post-sale support, billings
and collections, whilst offering appropriate tariffs depending on each end
user's requirements.

Importantly, as its core technologies evolve, and more affordable capacity is
made available, BBB continues to offer ever-increasing speeds and higher data
throughputs to satisfy market demands for broadband and broadband services.
BBB's alternative broadband offerings present a customer experience that is
similar to that offered by wired broadband and the connection can be shared in
the normal way with PCs, tablets and smart phones via a normal wired or
wireless route

 

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