Swoop secures SA telco

12/07/2021 - 12:00

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Swoop’s acquisition frenzy has shown no sign of slowing down following its $6.7 million purchase of SA-based Beam Internet.

Swoop secures SA telco
Tony Grist is a director of Swoop Holdings. Photo: Attila Csaszar

Swoop’s acquisition frenzy has shown no sign of slowing down following its $6.7 million purchase of South Australia-based Beam Internet.

The Andrew Forrest-backed ISP, which listed on the ASX in May through a reverse takeover, has now made three acquisitions in less than a month, having bought Victoria-based Speedweb and Western Australia-based ComComs in June.

Beam Internet provides services through 60 towers and covers significant parts of regional SA, including Murray Bridge and Kangaroo Island, as well as parts of western Victoria.

Swoop chief executive Alex West said the acquisition was a fantastic opportunity for the business to grow its infrastructure footprint.

“Beam has a recently upgrades and well-built modern network which aligns with our own national network and gives us a strong springboard for growth into the SA market,” he said.

“We look forward to the opportunities this acquisition provides in establishing a South Australian presence for the Swoop brand.”

Shares in Swoop were trading at $0.97 each as of 12pm AEST.

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