Category Sponsorship Banner Left

Category Sponsorship Banner Right

Home Page Skin 160x1200 Contractor

Category Sponsorship Banner Middle

Tuesday, 05 July 2022 11:00

Swoop swoops on Moose Mobile

By
Swoop CEO Alex West Swoop CEO Alex West

Fixed wireless and wholesale network infrastructure provider Swoop Holdings has acquired Queensland-based MVNO Moose Mobile for $24 million.

Moose, which uses the Optus network, provides more than 94,000 mobile services to its customers.

"This is an exciting time for Swoop to be joined by the amazing founders and team from Moose who have specialised in marketing mobile services to residential customers. Their subscriber growth has been outstanding over the last few years with over 94,000 active customers and increasing aggressively in recent times and are motivated to achieve more as a combined group," said Swoop CEO Alex West.

"The most exciting part is the cross-sell potential into the residential broadband space, with over 94,000 users a target to provide Swoop fixed wireless and NBN internet services through; as well as nearly 26,000 residential Swoop customers that could receive a Moose mobile service.

"This acquisition is also in line with our previous transactions in that is provides strong cash generation, with a very high proportion of the EBITA converting to cash that continues our strong positive net operating cashflow; and brings the overall group closer to free cash flow after our capital investments, heading into the next financial year."

The $24 million price comprises $19 million in cash (funded from Swoop's Westpac debt facility) and $5 million in Swoop shares, which will be held in escrow for 12 months.

$2.85 million of the cash payable on completion will be held in escrow for six months to cover potential claims and adjustments.

The transaction is expected to close on 1 August 2022.

Read 1023 times

Please join our community here and become a VIP.

Subscribe to ITWIRE UPDATE Newsletter here
JOIN our iTWireTV our YouTube Community here
BACK TO LATEST NEWS here

GET READY FOR XCONF AUSTRALIA 2022

Thoughtworks presents XConf Australia, back in-person in three cities, bringing together people who care deeply about software and its impact on the world.

In its fifth year, XConf is our annual technology event created by technologists for technologists.

Participate in a robust agenda of talks as local thought leaders and Thoughtworks technologists share first-hand experiences and exchange new ways to empower teams, deliver quality software and drive innovation for responsible tech.

Explore how at Thoughtworks, we are making tech better, together.

Tickets are now available and all proceeds will be donated to Indigitek, a not-for-profit organisation that aims to create technology employment pathways for First Nations Peoples.


Click the button below to register and get your ticket for the Melbourne, Sydney or Brisbane event

GET YOUR TICKET!

PROMOTE YOUR WEBINAR ON ITWIRE

It's all about Webinars.

Marketing budgets are now focused on Webinars combined with Lead Generation.

If you wish to promote a Webinar we recommend at least a 3 to 4 week campaign prior to your event.

The iTWire campaign will include extensive adverts on our News Site itwire.com and prominent Newsletter promotion https://itwire.com/itwire-update.html and Promotional News & Editorial. Plus a video interview of the key speaker on iTWire TV https://www.youtube.com/c/iTWireTV/videos which will be used in Promotional Posts on the iTWire Home Page.

Now we are coming out of Lockdown iTWire will be focussed to assisting with your webinars and campaigns and assistance via part payments and extended terms, a Webinar Business Booster Pack and other supportive programs. We can also create your adverts and written content plus coordinate your video interview.

We look forward to discussing your campaign goals with you. Please click the button below.

MORE INFO HERE!

BACK TO HOME PAGE
Stephen Withers

Stephen Withers is one of Australia¹s most experienced IT journalists, having begun his career in the days of 8-bit 'microcomputers'. He covers the gamut from gadgets to enterprise systems. In previous lives he has been an academic, a systems programmer, an IT support manager, and an online services manager. Stephen holds an honours degree in Management Sciences and a PhD in Industrial and Business Studies.

Share News tips for the iTWire Journalists? Your tip will be anonymous

WEBINARS ONLINE & ON-DEMAND

GUEST ARTICLES

VENDOR NEWS

Guest Opinion

Guest Interviews

Guest Reviews

Guest Research

Guest Research & Case Studies

Channel News

Comments