Comms Group Ltd has acquired TasmaNet for $10 million, enhancing its presence in Tasmania's telecommunications sector and is supported by a $7 million capital raise and a $10.7 million debt facility.
Information on the Target
Comms Group Ltd (ASX:CCG) has successfully acquired the business and assets of TasmaNet, a distinguished provider of premium communications and managed IT services for the Tasmanian Government and various enterprises across Tasmania. This acquisition aligns with Comms Group's strategic intent to bolster its service offerings and expand its footprint within the Tasmanian market.
The inclusion of TasmaNet's key network assets and its established corporate and government clientele significantly enhances Comms Group's operational capabilities. With this transaction, the combined annualized revenue of the group is projected to reach approximately $75 million, along with an underlying annualized EBITDA estimated between $9 million and $10 million.
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Industry Overview in Tasmania
The telecommunications and IT services industry in Tasmania is characterized by a growing demand for reliable communication solutions and managed services, particularly among government sectors an
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Disclosed details
Transaction Size: $10M
Revenue: $75M
EBITDA: $10M