Vumatel has acquired Fibrehoods, with the terms of the deal not disclosed.
“The acquisition will help us accelerate and build a connected South Africa faster,” said Niel Schoeman, CEO of Vumatel.
Vumatel said it plans to complete its fibre infrastructure roll-out across Johannesburg by Q3 2017.
“The Fibrehoods network compliments Vumatel’s network footprint with little overlap. Through Fibrehoods, we gain more capability to expand into new suburbs quicker. There are also ancillary benefits that we gain from economies of scale.”
The companies will operate as separate businesses until integration is deemed appropriate.
The acquisition of Fibrehoods allows Vumatel to expand its fibre footprint into the following suburbs:
- Beverley Gardens
- Bordeaux North
- Bordeaux South
- Bryanston Ext. 3
- Craighall Park
- Dunkeld West
- Elton Hill
- Lyme Park
- Vandia Grove
- Winston Ridge