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.