Superloop, MNF Group sign multi-year agreement for nbn aggregation services

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Summary

  • Superloop Limited has secured a multi-year contract with MNF Group’s Symbio to become the exclusive supplier of wholesale nbn aggregation services.
  • The agreement, worth over A$25 million, is Superloop’s biggest single contact to date.
  • The Company aims to develop its Superloop Connect platform to allow additional products & services from its APAC and Global offerings via its platform.

A prominent independent provider of connectivity services in Asia-Pacific, Superloop Limited (ASX:SLC) has won a multi-year contract with MNF Group Limited’s (ASX:MNF) Symbio. As part of the agreement, Superloop would become the exclusive supplier of wholesale nbn aggregation services.

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MNF group chose Superloop Limited as its partner for the provision of nbn aggregation services due to state of the art Superloop Connect platform along with the strength of its underlying network. SLC’s network has been designed for nbn network services, and it has built significant capacity to cater to the constant expansion that it is expecting across Australia.

More About the Agreement with MNF Group Limited:

The contract signed between Superloop and MNF Group has an expected value of more than A$25 million. In its media release, the Company highlighted that this represented the largest single contact that it has won to date.

As per the deal, Symbio will novate its present and future supply agreements from several providers of nbn aggregation services onto the Superloop Connect platform. Further, the agreement requires SLC to expand its current use of Symbio’s range of voice offerings & involving elements within its range of offerings.

Features of Superloop’s nbn aggregation services:

SLC’s nbn aggregation services are being provided on its Superloop Connect platform. This platform is a frictionless, API driven platform that enables customers to access the Company’s market-leading nbn backhaul & virtual nni capabilities in a cost-efficient manner. These capabilities have been implemented at a national level. Thus, letting SLC’s clients an entirely digital mechanism to order, provision and ensure nbn business & consumer facilities anyplace on nbn’s fixed-line along with wireless footprint. The Company provides those services to any of the mainstream data centres in Australia.

In the upcoming period, the Company aims to develop its Superloop Connect platform further to allow additional products and services from its APAC and Global offerings through its platform.

Stock Information: At AEDT 2:04 PM, SLC shares were trading at A$1.025, up 4.591% from the previous close. The Company has a market cap of A$358.54 million.

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