SYDNEY – Australian telecommunications firm Superloop Ltd (ASX: SLC) has agreed to acquire fibre network operator Lightning Broadband for A$165 million in cash, the company announced on Wednesday, as it moves to strengthen its position as a national challenger to incumbent broadband providers.
The acquisition will see Superloop take full ownership of Lynham Networks Pty Ltd, the parent company of Lightning Broadband. The deal adds approximately 54,000 fibre-to-the-premises (FTTP) lots to Superloop’s footprint, including around 24,000 already built and 30,000 under contract for future development.
Upon completion, Superloop’s Smart Communities division will have a total contracted footprint of 170,000 lots, comprising roughly 84,800 constructed lots and 85,500 earmarked for future delivery, the company said.
The deal is expected to close in the fourth quarter of fiscal 2026, subject to regulatory approvals.
Superloop said the acquisition would be fully funded from existing cash reserves and its current debt facility, with leverage expected to remain low at approximately 1.4 times EBITDA.
The transaction values Lightning Broadband at about 15 times forecast fiscal 2027 EBITDA before synergies, and around 10 times after expected cost synergies of A$5 million within three years. Superloop said the deal is expected to be earnings per share accretive in FY27.
“This acquisition is a critical step in our plan to build our Smart Communities asset base with significant scale and value,” said Superloop CEO Paul Tyler in a statement.
“Lightning Broadband’s strength in MDUs complements our expertise in broadacre, build-to-rent and purpose-built student accommodation,” he added, noting that Superloop’s existing 2,500 km metropolitan fibre network would enable direct connections to Lightning’s buildings, enhancing resilience and driving cost efficiencies.
Lightning Broadband operates an open-access wholesale network across more than 400 multi-dwelling and single-dwelling unit developments. It holds Statutory Infrastructure Provider status under Australian telecom law, positioning it as the default last-mile fibre provider in designated areas.
The acquisition follows Superloop’s earlier purchase of Frontier Networks in the first half of the year and forms part of a broader push to scale its infrastructure asset base.
Barrenjoey Advisory Pty Ltd acted as financial adviser to Superloop on the transaction.