Singtel’s Australian subsidiary to acquire Amaysim’s mobile business in $175m deal

Optus, a wholly-owned telco subsidiary of Singtel in Australia, announced it will acquire Amaysim’s mobile business in a A$250 million (US$175 million) deal.

Photo credit: Optus

With around 1.19 million subscribers, the Australia-based Amaysim is the fourth largest mobile provider in the country, according to a statement. It operates as a mobile virtual network operator (MVNO) on the Optus 4G Plus network and specializes in SIM-only mobile plans.

Optus said that Amaysim will remain as a standalone brand after the acquisition.

The deal is subject to conditions, including Amaysim’s shareholder approval and payment adjustments.

It is expected to be completed in January 2021, while Amaysim plans to delist from the Australian Securities Exchange in June 2021, according to The Business Times, citing an exchange filing.

In August, Amaysim sold its energy business to AGL in a A$115 million (US$80.5 million) deal.

The acquisition is part of Optus’ plan to reinforce its presence in Australia’s MVNO market. It is also launching Gomo, “a new digital brand designed for those seeking simple plans and budget-friendly telecommunication services,” which is already available in Singapore.

“Already underpinned by Optus’ premium 4G network, Amaysim has a customer-oriented philosophy, which very much aligns with Optus’ own customer-first approach. Optus will keep the Amaysim brand intact and this deal will provide the certainty and backing Amaysim needs to power ahead and accelerate its growth in the MVNO segment,” Optus CEO Kelly Bayer Rosmarin said in a statement.

Currency converted from Australian dollar to US dollar: US$1 = A$1.43.