Remote broadband supplier Satellite Solutions Worldwide Group PLC (LON:SAT) has made two more major acquisitions with deals that boost its presence in Norway and Australia.
Just three weeks after it bought UK rival Avonline for £10mln, SSW is acquiring Breiband in Norway and Skymesh in Australia for a total of £11.7mln.
Both businesses are similar to SSW and supply rural broadband services to about 41,000 customers with an immediate contribution to earnings expected.
Andrew Walwyn, chief executive, said: "Breiband and SkyMesh significantly enhance our scale, reach and financial capabilities.
“Coming so soon after the pivotal BGF backed acquisition of Avonline in the UK these deals underwrite our position as one of Europe's largest rural broadband solutions providers.”
"However, the company is now not solely about satellite; it is about the provision of internet to customers via the most efficient, highest margin technology, given a particular marketplace and geography.
“Breiband gives us access to new technologies and delivery mechanisms, which opens up new possibilities and consolidation opportunities.”
SkyMesh,meanwhile, made underlying profits of £0.6mln on sales of £7.8mln in 2015 with the Australian government keen to boost broadband access across thecountry.
SSW also issued a trading update, indicating organic revenues continue to increase with gross margin higher than the first half of last year.
Average revenue per user (ARPU) is up by approximately 13% while the number of customers has grown to 75,000 from 25,000. The existing group operations were also profitable at an underlying [EBITDA] level on a monthly basis from July.
Walwyn added: “We are ahead of schedule for our target of 100,000 users by the end of 2017 and will continue the work on integrating Avonline, Breiband and SkyMesh."
The company will look for more acquisitions, he added.