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Tag: Vocus

  • SISCC taps XSite Modular for subsea cable landing stations

    SISCC taps XSite Modular for subsea cable landing stations

    Solomon Islands Submarine Cable Company Limited (SISCC) has contracted prefabrication consultant and critical infrastructure building design builder XSite Modular to build four modular cable landing stations in the Pacific nation.

    The new cable landing stations will be deployed in Honiara, Auki, Noro, and Taro, and will form part of the Solomon Islands’ planned new subsea cable network infrastructure.

    This network will include the Coral Sea Cable System, a 4,000km cable system linking the Solomon Islands with Papua New Guinea and Australia. The network is being funded by the Australian government and will be operated by Australia’s Vocus Group. It will be the first subsea cable to directly reach the Solomon Islands.

    In addition, the 730km Solomon Islands Domestic Network (SIDN) will connect Taro, Noro and Auki with SISCC’s international hub in Honiara. This cable is also being funded by the Australian government as part of its development assistance program.

    SISCC has agreed to provide the landing party infrastructure for the two cable projects as part of the agreements between the Australian, Solomon Islands and Papua New Guinea governments.

    “XSite’s modular approach made design and construction of the structures easily customizable and able to meet both the strict delivery and budget demands of this ambitious project,” SISCC CEO Keir Preedy said.

    “Most crucially, XSite provides best-in-class and proven building techniques that offer the safety and reliability guarantees that are simply without compromise. We’re pleased to have them as our partner in developing and implementing this critical infrastructure for the Solomon Islands.”

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  • Vocus Group scraps plans to sell NZ business

    Vocus Group scraps plans to sell NZ business

    Australian enterprise-focused fixed line operator Vocus Group has abandoned plans to sell its New Zealand business, ending negotiations with all interested parties.

    In a statement, Vocus Group said none of the multiple offers it had received for the New Zealand business appropriately reflected the strategic value of the operation.

    The offers also did not provide the required certainty of funding and execution, according to Vocus Group chairman Bob Mansfield.

    As a result, Vocus Group now plans to “continue to invest in and grow Vocus NZ to enable that business to realise its strategic potential for shareholders.”

    Vocus Group first revealed it was seeking a buyer for its New Zealand operations in October 2017, and had originally planned to complete the sale by June this year.

    The company meanwhile announced that it is in the process of finalizing the appointment of several banks to arrange a full refinancing of its existing debt facilities, which will include an upsizing of the facilities. Vocus expects to complete its debt refinancing by the end of June.

    “The board would like to thank our bank group for their strong support shown to date,” Mansfield said.

    “We are comfortable that the increased financial capacity and covenants that will be sought through the refinancing will provide sufficient financial flexibility for the company to complete its strategic and transformation initiatives over the next few years.”

  • Australia’s Vocus gets two takeover bids

    Australia’s Vocus gets two takeover bids

    Australian fiber network operator Vocus Communications has revealed it has secured two competing non-binding takeover bids valuing the company at A$2.2 billion ($1.69 billion).

    Affinity Equity Partners has submitted a preliminary offer to acquire 100% of Vocus for A$3.50 in cash per share, subject to due diligence and other conditions. Vocus announced.

    The bid comes days after fellow private equity company KKR submitted a preliminary offer at the same A$3.50 per share price.

    Both private equity companies have been granted the chance to conduct due diligence on the potential takeover. The prospect of a bidding war has pushed Vocus shares on the Australian stock exchange up to A$3.595 as of around midday local time on Thursday.

    The price tag represents around a 16% premium on Vocus’ projected earnings for the current financial year, but the offer price may increase as negotiations progress.

    Vocus operates a range of telecoms brands serving enterprises, small businesses, government and residential customers, including Commander, iPrimus and Dodo.

    The value of the company has shrunk significantly lately due to concerns its profitability will be substantially reduced as customers migrate to the state-led national broadband network (NBN). A year ago the company has a valuation of around $5.5 billion.

  • Vocus Acquires Netgen

    Vocus Acquires Netgen

    A substantial chunk of fiber is changing hands down under. Vocus Communications has announced plans to acquire Netgen Networks in a deal worth about $500 million.

    Nextgen had built a 17,000km fiber backbone across Australia with fiber into 1,100 buildings including 70 data centers.

    They were also a 50% owner with Vocus on the ACS project building a subsea cable between Perth, Singapore, and Indonesia, which Vocus will take 100% possession of. And they were building the North West Cable system between Darwin and Port Hedland to the oil, gas, and mining industries as well, which will also be bought by Vocus.

    The deal, which follows their recent purchase of M2, will see Vocus add substantial infrastructure muscle in an effort to better compete with Telstra, Optus, and TPG.

    Vocus already has some 700km of fiber hooking up 1,300 buildings in Australia, as well as a more extensive 4,200km of fiber over in New Zealand.

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  • Vocus to buy Australia’s Nextgen Networks

    Vocus to buy Australia’s Nextgen Networks

    A substantial chunk of fiber is changing hands down under. Vocus Communications has announced plans to acquire Netgen Networks in a deal worth about $500 million.

    Nextgen had built a 17,000km fiber backbone across Australia with fiber into 1,100 buildings including 70 data centers.

    They were also a 50% owner with Vocus on the ACS project building a subsea cable between Perth, Singapore, and Indonesia, which Vocus will take 100% possession of. And they were building the North West Cable system between Darwin and Port Hedland to the oil, gas, and mining industries as well, which will also be bought by Vocus.

    The deal, which follows their recent purchase of M2, will see Vocus add substantial infrastructure muscle in an effort to better compete with Telstra, Optus, and TPG.

    Vocus already has some 700km of fiber hooking up 1,300 buildings in Australia, as well as a more extensive 4,200km of fiber over in New Zealand.

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