Superloop (ASX:SLC) entered into a binding share purchase agreement to acquire 100% of Lynham Networks, the parent company of Lightning Broadband, for AU$165 million in cash, subject to completion adjustments, according to a Wednesday Australian bourse filing.

The acquisition includes Lightning Broadband's retail and wholesale broadband operations with around 14,000 services in operation. Lightning Broadband's wholesale Fibre-To-The-Premises network includes around 54,000 secured lots across Victoria, New South Wales, Australian Capital Territory, South Australia, Queensland, and Western Australia, including around 24,000 built lots as well as around 30,000 further contracted lots for future delivery.

The deal is subject to various conditions precedent and is expected to be completed in the fourth quarter of fiscal year 2026, subject to regulatory approvals.

Its shares jumped 13% in recent trading on Wednesday.