Aussie Broadband boosts scale with AGL Telco acquisition and long-term partnership

Aussie Broadband Ltd. ( (AU:ABB) ) just unveiled an update.

Aussie Broadband has outlined to investors the strategic rationale for its newly announced agreement with AGL to acquire AGL Telco and associated customer assets, including services under the AGL and Southern Phone brands. The deal is paired with an exclusive long-term partnership that gives Aussie Broadband a powerful new distribution channel via one of Australia’s major energy retailers.

The transaction is positioned as a major step in delivering the company’s Look-to-28 strategy by materially increasing owned customer connections and strengthening growth in the residential connectivity market. Upon completion of customer migration, Aussie Broadband expects to add about 350,000 broadband and mobile services, plus more than 40,000 voice services, reinforcing its scale and expanding both its direct and indirect routes to market.

The most recent analyst rating on (AU:ABB) stock is a Buy with a A$6.15 price target. To see the full list of analyst forecasts on Aussie Broadband Ltd. stock, see the AU:ABB Stock Forecast page.

More about Aussie Broadband Ltd.

Aussie Broadband Group is a fast-growing Australian telecommunications services provider listed on the ASX under the code ABB. Through its Aussie Broadband and Symbio businesses, the group supplies more than 1 million services, operates two Tier 1 voice networks, owns fibre infrastructure, and is the fifth-largest broadband provider in Australia. It sells data, voice and managed solutions to residential, business, enterprise and government customers, and also offers wholesale services to other telcos and managed service providers.

Average Trading Volume: 1,129,467

Technical Sentiment Signal: Buy

Current Market Cap: A$1.28B

See more insights into ABB stock on TipRanks’ Stock Analysis page.