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ASX-listed telco makes multiple acquisitions
McCullough Robertson Lawyers has advised an ASX-listed telecommunications, cloud and IT solutions provider on a double acquisition and capital raising.
Emma Musgrave
Firm: McCullough Robertson (Over the Wire Holdings)
Value: Over the Wire agreed to acquire Access Digital Networks for total consideration of up to $14.5 million and Comlinx for total consideration of up to $20 million, a statement from McCullough Robertson said.
The transaction is partially funded by an institutional Placement, conducted by Morgans Corporate Limited to raise $21.5 million, and a retail Share Purchase Plan to raise up to $5 million, the firm added.
Area: M&A, finance, corporate
Key players: The McCullough Robertson legal team was led by corporate advisory partner Reece Walker, with support from members of the firm's corporate, commercial and tax teams.
Deal significance: These transactions mark the sixth and seventh acquisition for Over the Wire since McCullough Robertson acted on its Initial Public Offering in 2015.
“We are pleased to again be able to draw on our extensive experience and expertise to assist Over the Wire on their continued growth strategy,” lead partner Reece Walker said.
“The acquisition of Access Digital Networks and Comlinx accelerates Over the Wire’s expansion into South Australia and delivers a broader product offering to their customers.”
Completion of the acquisitions is expected to take place on 1 November 2018, it was noted.
Emma Musgrave
Emma Musgrave (née Ryan) is the managing editor, professional services at Momentum Media.
Emma has worked for Momentum Media since 2015, including five years spent as the editor of the company's legal brand - Lawyers Weekly. Throughout her time at Momentum, she has been responsible for breaking some of the biggest stories in corporate Australia. In addition, she has produced exclusive multimedia and event content related to the company's respective brands and audiences.
Prior to joining Momentum Media, Emma worked in breakfast radio, delivering news to the Central West region of NSW, before taking on a radio journalist role at Southern Cross Austereo, based in Townsville, North Queensland.
She holds a Bachelor of Communications (Journalism) degree from Charles Sturt University.
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