Australia鈥檚 TPG Telecom has agreed to sell its enterprise, government and wholesale (EG&W) fixed business and fibre network assets to (MAM) and Aware Super for A$5.25bn (鈧�3.23bn).
MAM and Aware Super are acquiring the business to bolster their jointly-owned fibre business, Vocus.
Under the terms of the agreement, Vocus and TPG will enter a long-term partnership providing TPG with ongoing access to Vocus鈥� fibre infrastructure.
Post acquisition, Vocus will operate a network of more than 50,000km of owned or leased fibre under long-term right of use arrangements, nearly 15,000km of international submarine cables, and close to 20,000 connected buildings.
Vocus will acquire TPG鈥檚 PPC-1 submarine cable which runs from Sydney to Guam, accompanying Vocus鈥� existing Australia Singapore Cable, North-West Cable system, Darwin-Jakarta-Singapore Cable system, and the in-progress Pacific Connect cable system.
The agreement includes TPG鈥檚 fibre network infrastructure, EG&W fixed customer base, IT assets, international submarine cables, and Vision Network鈥檚 wholesale residential broadband business.
TPG will retain its mobile radio network infrastructure, consumer and EG&W mobile business, and its consumer and small office/home office commercial fixed business.
Ani Satchcroft, co-head of Infrastructure for Asia Pacific at MAM said: 鈥淭oday鈥檚 agreement builds on our 2022 merger of Vocus鈥� New Zealand鈥檚 operations with 2degrees, which successfully created New Zealand鈥檚 third-largest integrated telecommunications company and has driven competition in that market.鈥�
Mark Hector, head of infrastructure at Aware Super said: 鈥淭his agreement enhances the competitiveness of Vocus in the Australian digital infrastructure sector, offering its customers a greater breadth of services and end-to-end connectivity.鈥�
鈥淚t also strengthens the Aware Super digital infrastructure portfolio, a strategic focus for Aware and an area of investment we continue to pursue domestically and offshore in Europe and the US,鈥� he added.
Jarrod Nink, interim chief executive officer at Vocus said: 鈥淒igital infrastructure is the foundation of the modern economy, driving growth and innovation, and opening new markets and opportunities.鈥�
Nink said investment and competition in this industry was critical for Australia鈥檚 future Vocus and TPG鈥檚 fibre assets served largely complementary segments of Australia鈥檚 EG&W sector.
MAM and Aware Super bought Vocus for A$3.5bn in 2021.
