Superloop Limited (ASX: SLC) announces the purchase of the fibre broadband customer base operated on the nbn network by ISP, SkyMesh Pty Ltd, the Australian subsidiary of Bigblu Broadband plc (AIM: BBB).
The $1.5 million deal will add over 10,000 broadband subscribers to Superbb, the newly formed retail broadband division of Superloop. Superloop founder and CEO Bevan Slattery said, “This is an attractive acquisition, kickstarting our position in the retail nbn marketplace and complimenting our NuSkope acquisition late last year.”
The acquisition aligns with Superbb’s plans to aggressively disrupt the Australian ISP landscape, now dominated by the ‘big four’, by offering a credible challenger with a focus on an outstanding customer experience, backed by 100% Australian-based staff.
Incoming CEO Drew Kelton said, “We will be bringing a business class experience to the residential customer, something that is missing in the market right now.”
Superbb will migrate the customer base onto its new platform, which is expected to be live in October this year. This coincides with Superloop rolling out a national backbone connecting all of the nbn’s 121 Points of Interconnect at either 10 or 100 gigabits per second, excluding Hobart and Launceston.