Vocus to acquire fibre provider Ipera Communications
- 07 December, 2012 13:42
Vocus Communications CEO James Spencely.
Vocus Communications (ASX:VOC) has entered a binding agreement to acquire Newcastle-based data centre and fibre provider Ipera Communications for $9.8 million.
The arrangement means Vocus will take over two data centres in Newcastle and expand its fibre network by 55 kilometres in the city. When the transaction is complete next year, the Ipera business is expected to contribute earnings before interest, tax, depreciation and amortisation (EBITDA) of between $2.3 million and $2.5 million in the 2014 financial year.
According to Vocus CEO James Spencely, the acquisition will enable the company to service the national requirements of Newcastle-based companies while expanding Ipera’s services in the city.
Ipera founder and managing director, Chris Deere will be retained by Vocus to manage the Newcastle operation.
Deere said his company built one of the "most extensive" dark fibre networks in the Newcastle area. Its customers include NIB Health Funds, Hunter Water Corporation, Port Waratah Coal and Macquarie Generation. Ipera has been in operation since 2000.
Vocus Communications has been on the acquisition path since early this year. In May, it entered a binding agreement to acquire New Zealand-based data centre and Cloud provider, Maxnet, for A$7.3 million (NZ$9.5 million).
Follow Hamish Barwick on Twitter: @HamishBarwick
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