Superloop (ASX:SLC) agreed to buy Uecomm from telecommunications company Optus for AU$17.5 million, according to a Monday filing with the Australian bourse.

The acquisition is expected to add over 2,000 kilometers of high-capacity fiber assets, the filing said. It will be funded via cash and existing debt facilities and is expected to be completed in early 2025.

Uecomm's contribution to Superloop's earnings before interest, taxes, depreciation, and amortization is projected to be neutral in the first year, with longer-term cost and revenue synergies anticipated.

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