Completes SuperInternet Group acquisition: MNF Group Ltd.’s (ASX: MNF) stock witnessed rise in price by 3.1% on July 06, 2018 after the company completed the acquisition of SuperInternet Group, after receiving regulatory approvals. For the acquisition of SuperInternet Group, which is a fully licensed independent Facilities Based Operator (FBO) in Singapore, MNF had paid S$2.0m (AU$2.0m). Meanwhile, the SuperInternet business is a niche operator, that generates approximately S$1.6m in revenue and is currently EBITDA break even. This business is certified by Singaporean Government and has the potential for new revenues in the near future. Further, this acquisition will provide MNF with additional capabilities to address the Singapore market, which will provide increased sales potential with existing and new wholesale customers. The company also plans to continue to invest in the enterprise and government sector in Singapore and deploy additional product capabilities into the market. MNF had planned to upgrade the existing network infrastructure with the software ecosystem, which will enable the full suite of MNF wholesale, enterprise and government products to be delivered domestically, and globally. SuperInternet is headquartered in Singapore, and has an excellent and dedicated team of 10 (FTE) staff. This acquisition is part of MNF’s regional expansion strategy into Asia, which will provide additional market for consistent long-term growth and innovation potential. Additionally, MNF has re-affirmed its current organic earnings guidance for FY18. The company expects to earn $25.0m EBITDA and $12.5m NPAT in FY18. On the other hand, ASX: MNF stock has fallen 6.83% in three months as on July 05, 2018.
Timetable for FY18 results release and final dividend (source: Company Reports)
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