GenusPlus Group to Acquire Universal Communications Group

MT Newswires Live10-12

GenusPlus Group (ASX:GNP) agreed to acquire 100% of New Zealand-based telecommunications infrastructure provider Universal Communications Group (UCG) for an upfront cash payment of NZ$38.3 million, deferred consideration of NZ$1.8 million, and performance-based earn-outs of up to NZ$25 million, according to a Monday Australian bourse filing.

UCG reported unaudited fiscal 2026 revenue of around NZ$96 million and adjusted earnings before interest and taxes of NZ$7.8 million, per the filing.

The acquisition is expected to immediately boost the company's earnings while enhancing its telecommunications construction and maintenance capabilities across New Zealand and the Pacific Islands, the filing said.

The transaction is expected to be completed by the end of October, subject to customary conditions, including regulatory approval in New Zealand, the filing added.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment