Dark fibre company Superloop has bought APEXnetworks

Photo: Getty Images

Superloop, the Australian dark fibre network operator, has bought APEXnetworks, a networking solutions and managed services group, for $5.8 million.

The deal is made up of $3.8 million in cash and $2 million in Superloop scrip.

Superloop CEO Daniel Abrahams says the acquisition enables Superloop to rapidly deploy a managed services capability for wholesale and channel customers.

APEXN’s platform includes key systems from service qualification tools through to ordering, provisioning, billing, support and network management.

“This is particularly important as Superloop expands our fibre network in Singapore under Project Red Lion,” says Abrahams.

APEXN Co-Founders Ryan Crouch and Matthew Gregg both continue within the Superloop group which will operate as a separate brand.

Superloop, which operates a private optical fibre network, raised $17.5 million when it listed on the ASX in June.

Its shares are up 2.5% today to $2.40, more than double the $1 price of the IPO.

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