Future Broadband Sold to ActivePort

[Rain]

Perth-based SD-WAN software company ActivePort has acquired Future Broadband, allowing it to accelerate the deployment of its Global Edge portal.

Described by ActivePort as a self-service network provisioning and management portal, the acquisition will see it incorporate Future Broadband’s automation technology into Global Edge.

Through the deal, the broadband provider will be acquired in a 100 per cent scrip-based deal priced at 20 cents per ActivePort share, with performance rights also on offer.

Following the acquisition, Future Broadband will retain its own brand, according to ActivePort CEO Karim Nejaim.

“We are intending to be able to demonstrate significant revenue growth in Future Broadband as a result of the acquisition as we integrate Future Broadband's software capability into [ActivePort],” he said to ARN.

In addition, Future Broadband founder Jason Mikronis is set to join ActivePort’s team to drive Global Edge, according to a statement by the software company to the Australian Securities Exchange (ASX).

Contractors that work with Mikronis will also continue their work post-acquisition.

“We built Global Edge as a next-generation network-as-a-service (NaaS) software platform that extends all the way from cloud to edge with integrated SD-WAN and network function virtualisation (NFV) capability,” said Nejaim.

“The acquisition of Future Broadband and the addition of Jason to our team will accelerate deployment of our Global Edge platform in Australia and internationally.”

Future Broadband sold to Active Port as of 19-04-2022