Mobile service reseller amaysim Australia (ASX:AYS) has completed the acquisition of 100% of the shares in Vaya Pty Ltd, a privately owned mobile virtual network operator.
The acquisition has an enterprise value of $70 million, including an equity value of $20 million with $5 million to be paid in cash to Vaya vendors on completion and $15 million of amaysim shares issued to Vaya’s vendors over a period of 12 months in 3 equal tranches.
The deal is expected to be materially accretive on an underlying NPATA basis for amaysim shareholders in FY17.
Amaysim has more than 718,000 customers using the Singtel-Optus network.
Vaya, like amaysim, utilises the Optus 4G Plus network and with 140,000 subscribers has a strong presence in the sub-$20 market segment in Australia.
Founded in 2011, Vaya Group operates its business 100% online with no retail presence. Vaya has established itself as a low cost mobile product suite, with the majority of its 140,000 subscribers on its $18 monthly offering.
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