Australia's Superloop jumps on deal to buy tech firm

Superloop

25/05/2022 02:27

** Shares of fibre network operator Superloop  SLC.AX  rise
as much as 3.8% - set for best day since May 11, if gains hold 
    ** Co says it has entered into conditional agreement to buy
Melbourne-based white label and tech co Acurus Holdings Pty Ltd
 urn:newsml:reuters.com:*:nASX7lwFn4
    ** Says A$15 mln ($10.64 mln) acquisition will be funded by
existing cash reserves and share placement
    ** Adds acquisition is expected to be earnings-accretive in
FY23
    ** Stock has lost a third of its value this year, as of last
close 

($1 = 1.4104 Australian dollars)

 (Reporting by Jaskiran Singh in Bengaluru)
 ((Jaskiran.Singh@thomsonreuters.com;))