ASX-listed telco Uniti Wireless has announced it will acquire internet service provider Pivit for $450,000.
Pivit will bring some 2000 customers to Uniti’s fibre business.
“The addition of the Pivit customer base materially grows our private fibre customer portfolio and extends our reach into more network operators in this attractive NBN-alternative market segment,” Uniti chief executive Michael Simmons said.
“The sizeable forecast earnings contribution brought by Pivit delivers strong earnings-per-share accretion to our shareholders, which is a core expectation of any acquisition we make.”
The deal comes after Melbourne-based Spirit Telecom rejected Uniti’s acquisition bid earlier this month. Spirit Telecom later acquired Brisbane-based LinkOne Networks.
The acquisition of Pivit will add directly to Uniti’s fibre business, which was established earlier this year when it acquired Fuzenet in February 2019. Uniti’s other businesses are its core wireless networks and “specialist products and markets,” which include SD-WAN, session initiation protocol (SIP) and voice services.
Uniti said it will resell NBN selectively, but considers it the default network alternative.
“[Uniti Wireless] considers growth in NBN resold services, both organically and inorganically, presents opportunities to invest in alternative networks to enhance profitability,” Uniti said.
