5G Networks (ASX:5GN) is excited to announce the appointment of Mr. Jason Ashton as Non-Executive Director. In addition to Jason’s board role he will provide strategic industry advice and assist in driving 5GN’s growth and acquisition strategy.
Mr Ashton has 25 years-experience in the Internet and Telecommunications industry. A successful entrepreneur and Executive, Mr Ashton co-founded and built two separate, successful Internet infrastructure businesses – Magna Data Pty Ltd (1993) and BigAir Group Limited (“BigAir” ASX:BGL) (2002).
BigAir was established in 2002 as a network, cloud and managed services business. The group built a national high speed network across the largest cities in Australia and a large number of regional centres, offering high speed data and broadband services using next generation wireless technologies. In 2016, after numerous acquisitions, Big Air reached revenues of over $79 million in 2016, until it was sold to ASX-listed Superloop (SLC).
BigAir’s growth was underpinned by an impressive 39% 5 year CAGR of revenue and 34% 5 year CAGR underlying EBITDA.
5G Networks Managing Director, Joe Demase stated: “We are extremely excited to welcome Jason to the board as he possesses a wide range of experience in the telco, cloud and managed services segments; our core business streams. Jason has a strong understanding of the enterprise market and the growth opportunities that lie within. Given the rapid growth of 5GN to date, the board believes the company is in an ideal position to welcome Jason’s expertise to support and accelerate the successful execution of our growth strategy. Jason will bring a diverse range of business skills with valuable experience having completed numerous acquisitions and his in-depth knowledge of the sector. We have maintained a healthy relationship over the years, and t will be great to be working together.”
Mr Ashton stated: “I look forward to adding value to 5GN in an industry that I am extremely passionate about, having worked within that environment all my life. 5GN’s achievements to date are well regarded by the market and are particularly impressive to me; I look forward to assisting the team and being part of this exciting growth journey.”
