Spirit paid $4.6 million for World Without Wires (2,200 customers).
And Superloop paid $10 million for Nuskope (about 10,000 customers).
I'm trying to find the number of Spirit customers - I thought I saw a figure mentioned in a past quarterly/annual report, but no luck yet.
From memory, Spirit's residential/apartment customer revenues had flatlined, but if UWL has traditionally focused on connecting normal houses, they can better corner Melbourne's residential market (i.e. acquired apartments plus normal houses, which Spirit mostly shied away from). I read that Greater Melbourne's population grew by 119,000 during 2017-18 alone.
That said, I think the more lucrative segment is in commercial buildings. Spirit's numbers for that segment just keep on growing - and I think UWL wants to get their hands on that, without having to compete directly with Spirit for them.
And here I was, thinking that Spirit was going to do acquisitions of its own over the next few years.
ST1 Price at posting:
18.5¢ Sentiment: Hold Disclosure: Held
