Aussie Broadband to Acquire Business Communication Firm From Infotrust for Over AU$44 Million

MT Newswires Live

02/23

Aussie Broadband (ASX:ABB) entered into a binding agreement to acquire Nexgen Investment Group from Infotrust (ASX: ITS) for a cash consideration of AU$44.1 million, according to a Monday Australian bourse filing.

The deal includes an additional earn-out of up to AU$5.9 million, subject to Nexgen meeting earnings before interest, taxes, depreciation, and amortization targets in fiscal 2026 or fiscal 2027, per the filing.

The acquisition is expected to be completed in March. Nexgen co-founders, Elie Ayoub and James Harb, committed to staying in the business.

Aussie Broadband's shares rose past 1% in recent trading on Monday.

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