August 7, 2018

5G Networks announces acquisition of Inabox SBUs for USD 4.2 million

The acquisition aims to increase 5G Network’s global footprint in a bid to expand their offerings and customer base.

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Cloud and networking company 5G Networks (5GN) have acquired wholesale telecommunications provider Inabox’s SBUs for USD 4.2 million. With this acquisition, 5GN will be adding Inabox’s Hostworks and Anittel to their folio and expand their customer base to increase their global footprint.

According to 5GN, Australia as a market is maturing when it comes to cloud-based products and services. They claim that this market is filled with a wide range of customers belonging to different segments.

By acquiring Inabox’s Hostworks and Anittel SBUs, 5GN say that they have taken a significant step in expanding their geographical footprint. They claim that this move would allow 5GN to extend their own cloud services and strengthen its position in the South Australian market.

Joe Demase, Managing Director at 5GN, commented:

The acquisition of an established hosting and IT services business [and] necessary infrastructure will support growth and customer demand in [our] core business streams. We pursued this transaction because it is exactly what we needed to rapidly expand our core business streams.

Inabox say that this acquisition will allow them to focus on their wholesale business units which are cash cows for them. In closing, the telecom provider said that the deal is subject to mandatory approvals and regulations.

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