Adelaide-based telco upstart Uniti Wireless is in talks to acquire Melbourne-based Spirit Telecom.
Uniti made the announcement in response to “capital markets speculation”, but did not go into further detail.
“Uniti Wireless can confirm that it has issued a non-binding indicative offer to acquire 100 percent of the issued securities of Spirit Telecom by way of scheme agreement, however no definite agreement on any matters has been reached,” the company said in a statement.
“Uniti cannot comment further at this time and will keep the market informed in accordance with its continuous disclosure obligations.”
The NBN reseller and wireless internet service provider debuted on the ASX in February, raising $13.2 million in an initial public offering.
According to iTnews, Uniti aimed to raise between $12 million and $18 million for the IPO, with plans to expand the reach of its own fixed wireless services “beyond the Adelaide and Melbourne markets where [they] currently exist.”
Spirit Telecom went public in 2016, raising $2.62 million through a reverse takeover with then-publicly listed shell entity Arunta Resources.
The Melbourne-based telco provides internet and telephony services to residential and commercial buildings, with a product range including access to cloud providers such as Amazon Web Services, Microsoft Azure, and cloud services such as MYOB and Xero. The company also offers managed services and NBN reseller services.