5G Networks acquires Melbourne Data Centre for $5.7m

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5G Networks acquires Melbourne Data Centre for $5.7m

5G Networks (ASX: 5GN) today announced the addition of $3m in annualised revenue via the $5.7m acquisition of Melbourne Data Centre (MDC) located in the heart of Melbourne CBD. This impressive infrastructure investment is aligned with 5GN’s aggressive growth strategy and powers seamless access to the 5GN Cloud through the 5GN Managed Network product offering.

The MDC purchase price of $5.7m is made of $1m cash on completion and issuing of $1.75m of shares. Caason Group was instrumental in facilitating 5GN’s robust banking facility with CBA to support such expansion activity.

Caason Group is a top 10 shareholder in 5GN.

The ASX announcement can be located here:

https://www.asx.com.au/asxpdf/20190402/pdf/443zcb7zhzvvss.pdf

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