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The latest update is out from Comms Group Ltd. (Australia) ( (AU:CCG) ).
Comms Group Limited has announced a strategic acquisition of TasmaNet, a leading provider of communication and managed IT services in Tasmania. This acquisition is expected to significantly boost Comms Group’s revenue to approximately $75 million annually and enhance its market position in the government and corporate sectors. The deal includes key network assets such as a fixed wireless broadband network and a high-capacity fibre optic network, which will expand Comms Group’s service offerings and geographical reach. The acquisition is immediately earnings accretive and will be funded through a combination of equity raising and a debt facility. Completion is anticipated by the end of May 2025, pending third-party consents.
More about Comms Group Ltd. (Australia)
Comms Group Limited is an Australian company operating in the telecommunications and managed IT services industry. It focuses on providing communication solutions, data services, managed IT services, and security services to government and corporate clients across Australia.
Average Trading Volume: 343,795
Technical Sentiment Signal: Sell
Current Market Cap: A$23.42M
Learn more about CCG stock on TipRanks’ Stock Analysis page.