Monday March 12th, 2018 – 5G Networks Limited (ASX: 5GN) announce the successful acquisition of Asia Pacific Telecommunications (APTel).
APTel is a Melbourne based voice, data and cloud communications service provider and aggregator. With over 20 years history, APTel service over 800 mid-market corporate clients, hotel groups and commercial offices throughout Australia.
APTel is a company that falls under leading Australian integrated property development company, the Deague Group. Growing from an internal division of the Deague Group, servicing only their tenants network requirements, APTel grew to become a standalone service provider with a diverse client base. Conversely, APTel demonstrate significant strengths within the network, installation and managed services market and the addition of this business to the 5G Networks group will provide positive synergies and growth.
5G Networks Managing Director, Joe Demase, stated that “The acquisition of APTel is a significant illustration of the strategy that we outlined in our IPO prospectus. Immediately, it increases our revenue and gives access to a substantial new customer base that we can use to leverage our core offerings. The integration of the APTel service suite with our own offering, delivers a powerful business solution that can meet the modern demands of the mid-tier business market for broadband and cloud services”.
APTel also bring an energetic and experienced team that will integrate with the current 5G Networks framework. “Our immediate focus will be on the successful integration of the APTel business and personnel and delighting the APTel customer base with the high quality services the combined APTel 5G operation will deliver” Mr Demase said.
A partnering agreement has also been struck between the two parties for 5G Networks to partner with the Deague Group for current and future Deague Group property developments, including IT infrastructure and network access. 5G will provide all IT services for the Deague Group under a long term service agreement. Additionally, 5G will have roof top access to all existing and new Deague Group properties across Australia which will accelerate 5G’s wireless network rollout.
Read the full announcement here.
