Vocus completes Nextgen Networks acquisition

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Vocus completes Nextgen Networks acquisition

Vocus Communications has completed the acquisition of Nextgen Networks, the North West Cable System development project and the Australia Singapore Cable development project from the Nextgen Group.

Vocus announced plans to acquire Nextgen Networks in June 2016 for a total value of $861 million.

In September, the Australian Competition and Consumer Commission announced it would not oppose the acquisition, which consolidates today.

Vocus chief executive Geoff Horth thanked Nextgen Networks senior management and welcomed the new members of the Vocus team.

"Nextegen Networks delivers Vocus one of Australia's largest national fibre backhaul networks, complementing Vocus' existing fibre infrastructure," he said.

Horth said the acquisition of the North West Cable System, which is now operational, will enable Vocus to increase penetration of the mining and offshore oil and gas sectors.

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