Wednesday 22nd December 2021
|Text too small?|
Spark announced today that it has signed a conditional agreement to purchase back 50% of the shares in Connect 8 from electricity distribution company Electra Group.
The transaction means that Connect 8, an infrastructure provider to the telecommunications, water, and power sectors, will again be wholly owned by Spark.
Spark Technology Director Mark Beder says, “We believe now is the right time to bring Connect 8 back into the Spark group, to support the acceleration of our 5G rollout and the sharp uplift we have seen in IoT connections.
“Over the past three years, Connect 8 has expanded into water and power, which further supports our deployment of IoT networks and customer solutions in these sectors.”
Electra Chief Executive Neil Simmonds says, “It’s been a pleasure working with the Connect 8 team. We have improved our understanding of future telecommunications technologies through our involvement with Connect 8 but have decided to increase our business focus on our core Kapiti and Horowhenua regions.”
The transaction is expected to complete in early 2022. Connect 8 will continue to operate as construction contractor for telecommunications and other utility sectors.
Please see the link below for details
No comments yet
ArborGen Holdings Limited (NZX: ARB) Updates Market on FY22 Guidance
My Food Bag Group Limited (NZX: MFB) Q3 FY22 Trading Update
ikeGPS Group Limited (NZX: IKE) signs $0.9m deal with tier-1 electric utility
Tower Limited (NZX: TWR) Update on Tonga Volcanic Eruption and Tsunami Event
21st January 2022 Morning Report
Trade Window Holdings Limited (NZX: TWL) TradeWindow and Mastercard teams up
Genesis Energy Limited (NZX: GNE) FY22 Q2 Performance Report
Seeka Limited (NZX: SEK) Seeka announces dividend of 13 cents per share
20th January 2022 Morning Report
Z Energy Limited (NZX: ZEL) Q3FY33 Operating Data