Rene sure knows his acquisition sauce
My Net Fone Ltd (MNF.AX) CEO Rene Sugo sure knows his acquisition sauce.
The acquisition of Telecom New Zealand International voice business is another excellent bolt on for My Net Fone. The TNZI network that MNF are buying from Spark New Zealand Limited (SPK.AX) expands its reach.
$90-100 million of revenue and $3.5 million EBITDA before synergies. This deal will surely be less than 6 times EBITDA in the first year, maybe as low as 5. Anywhere in that range for a growing complementary business is good buying. This deal adds scale, global reach, a good brand and more. Two thumbs up!
Anyone want to talk about it? Or why Spark are selling?
Disclosure: Long MNF