Down under we have a metro fiber provider moving into the submarine cable business via M&A. Superloop, which operates metro fiber networks in Singapore, Hong Kong, and multiple Australian markets, has announced the acquisition of SubPartners.
SubPartners is a member of the INDIGO consortium with AARNet, Google, Indosat Ooredoo, Singtel, and Telstra. INDIGO will consist of two cable systems, one along the southern Australian coast between Sydney and Perth, and the other connecting Perth with Singapore. If all goes as planned, the cable will be operational by mid-2019.
Through this deal Superloop will gain its own fiber connectivity between its metro markets, transforming the company into an APAC regional connectivity power. Further M&A seems possible to add more assets to the mix across the company’s footprint.
Superloop is paying for the purchase with 1,451,869 of its own shares, worth US$2.5M. Much of that will go to the Australian entrepreneur Bevan Slattery, who owned 80% of SubPartners, and who also owns some 29% of Superloop and serves as its Chairman and CEO – so this can be seen as bringing two efforts under the same roof.
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Categories: Mergers and Acquisitions · Metro fiber · Undersea cables
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