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Aussie Broadband Plan $300M Takeover Bid

Aussie Broadband is reportedly in talks to buy Over The Wire, a telecommunication and IT solutions company with a market value of around $300 million.

The telco were eyeing the business earlier this year, and are now in exclusive discussions, according to The Australian.

Over The Wire is leading by co-founder and chief executive Michael Omeros, and co-founder/director Brent Paddon who both “hold a significant stake” of the business.

Aussie Broadband raised $134 million last month for an acquisition, furthering speculation that they will be locking in this takeover bid. However, analysts quoted in The Australian’s report, suggest that the $158 million Spirit Technology Solutions is “a logical target” for Aussie’s next acquisition.

 

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