MNF Group, whose brands include MyNetFone, Symbio Networks and Pennytel, has struck an agreement to acquire Singapore network operator SuperInternet.
MNF said it would pay S$2 million for the “niche operator,” which has revenue of around S$1.6 million and is EBITDA breakeven.
SuperInternet is licensed as a Facilities-Based Operator (FBO) by Singapore’s Infocomm Media Development Authority (IMDA) — able to operate its own network infrastructure.
MNF Group said it would offer its software products over the SuperInternet network.
SuperInternet’s assets include voice network infrastructure and dark fibre within the Singapore CBD.
“The acquisition of SuperInternet in Singapore provides MNF a rapid entry into the complex Singapore market and is part of MNF’s regional expansion strategy into Asia,” MNF CEO Rene Sugo said.
“This will allow the company to replicate its highly successful Australian and New Zealand based next-generation high margin recurring revenues in this additional market for consistent long-term growth and innovation potential.”
MNF expects to complete the acquisition by 31 July.
Australia’s TPG has been rolling out its own network infrastructure in Singapore, preparing to launch mobile services on the island later this year.
The ASX-listed telco will operate Singapore’s fourth mobile network after successfully bidding for spectrum in a 2016 auction staged by the IMDA. TPG in April 2017 acquired more spectrum.
TPG expects to spend S$200 million to S$300 million to launch its mobile network on the island.