There was a bit of M&A in the metro space down under to start off this week. Superloop has announced the acquisition of NuSkope, a provider of metro fixed wireless in the city of Adelaide, as well as several associated entities.
Superloop operates network infrastructure in Sydney, Melbourne, Brisbane, Hong Kong, and Singapore. This is their second acquisition in the Australian wireless space, complementing the company's BigAir acquisition from last year, and giving them a boost in the country's fifth largest city.
With the NBN project still churning forward, fixed wireless has emerged as a way to get into the Australian last mile business without getting in trouble for competing with NBN Co. Superloop is hoping to leverage the 1-3km reach of emerging millimeter-wave technologies to bring a gigabit to bear on the market.
The purchase of NuSkope will cost Superloop some $7M in cash and $3M in shares upfront another $2M or so in cash to follow if revenue and other targets get met as expected.