By Corinne Reichert, ZDNet
Vocus Communications has announced the completion of its acquisition of Nextgen Networks for AU$700 million, along with the North West Cable System (NWCS) for AU$134 million and the Australia Singapore Cable (ASC) project for AU$27 million.
“Nextgen Networks delivers Vocus one of Australia's largest national fibre backhaul networks, complementing Vocus' existing fibre infrastructure. The acquisition will connect Vocus' metropolitan fibre infrastructure to Nextgen Networks' inter-capital fibre network, creating a national network connecting capital cities, regional and remote areas — owned and managed by the Vocus team,” Vocus CEO Geoff Horth said on Wednesday.
“The acquisition of the North West Cable System project will enable Vocus to increase penetration of the mining and offshore oil and gas sectors. The cable is now operational, and is underwritten by foundation customers on long-term contracts.”
The deal will also see Vocus pay AU$27 million to acquire 100 percent of the ASC project, which was originally a AU$170 million 50-50 joint-venture deal between Vocus and NextgenNetworks to construct a 100Gbps 4,600km subsea cable connecting Perth to Singapore and Indonesia.