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Megaport ( (AU:MP1) ) has shared an announcement.
Megaport Limited has announced a A$200 million equity raising to fund the acquisition of Latitude.sh and expand its network in India. The acquisition of Latitude.sh, a global Compute-as-a-Service platform, is set to enhance Megaport’s capabilities by integrating high-performance compute infrastructure with its automated network services. This strategic move positions Megaport to capitalize on the growing US$13 billion Compute-as-a-Service market, with expected revenue and EBITDA uplifts. The expansion into India involves an investment of approximately A$43 million to acquire a leading network operator and deploy hardware across 40 data centers, strengthening Megaport’s market presence.
The most recent analyst rating on (AU:MP1) stock is a Hold with a A$16.00 price target. To see the full list of analyst forecasts on Megaport stock, see the AU:MP1 Stock Forecast page.
More about Megaport
Megaport Limited is a leading provider in the Network-as-a-Service (NaaS) industry, automating network infrastructure to facilitate seamless connectivity across cloud, AI, and data center ecosystems. The company focuses on enabling enterprises to efficiently move workloads between data centers and the cloud.
YTD Price Performance: 100.95%
Average Trading Volume: 715,921
Technical Sentiment Signal: Strong Buy
Current Market Cap: A$2.4B
For detailed information about MP1 stock, go to TipRanks’ Stock Analysis page.