Superloop wins landmark broadband contract with Origin Energy
Superloop has been awarded a six-year, exclusive contract to provide wholesale internet services to Origin Energy, expected to add in excess of $19 million of annualised EBITDA for Superloop.
Superloop has been awarded a six-year, exclusive contract to provide wholesale internet services to Origin Energy, rounding out a bumper few months for Superloop’s Business & Wholesale team who’ve already announced wins in recent weeks with Investa, Launtel, and AGL.
“Securing the Origin contract is a key progress milestone in Superloop’s three-year growth strategy,” says Superloop CEO, Paul Tyler. “It delivers step-change growth in our customer numbers and cements our market position as a leading wholesale broadband and backhaul provider to two of Australia’s largest energy retailers.”
As part of the deal, approximately 130,000 Origin broadband customers will be migrated from Origin’s current network provider to Superloop, increasing Superloop’s total customer numbers to approximately 560,000.
The contract is expected to add in excess of $19 million of annualised EBITDA for Superloop once the migration is complete.
To further align Superloop and Origin's interests in the continued growth of its broadband customer base with Superloop, the deal also includes Superloop equity. Initially, Origin will be issued with 9,847,690 Superloop shares, with a further 9,847,690 on the completion of the migration of 130,000 customers, and up to another $30 million of Superloop shares, subject to achieving further customer growth milestones.
“Australia’s energy retailers are investing heavily in product bundling, and we’re very pleased to be the partner of choice for reliability, service, and value,” says Tyler.
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