Australian MVNO Amaysim has completed its full acquisition of Vaya for AUD 70 million, including an equity value of AUD 20 million. The price includes AUD 5 million paid in cash to Vaya vendors on completion and AUD 15 million of Amaysim shares issued to Vaya vendors over 12 months, in three equal tranches. Amaysim will also assume a total of AUD 50 million of liabilities to Optus, payable over two years.
Vaya, a privately owned MVNO based in Brisbane with140,000 subscribers and a leading position in the sub-AUD 20 market segment in the country, uses the Optus 4G Plus network, as does Amaysim. Earnings from the deal will make a small contribution to Amaysim EBITDA this year and a bigger one next year.
Amaysim´s Network Services Agreement (NSA) terms will apply to Vaya and its its Live Connected and Zen Connect brands. Vaya will also be able to benefit from different wholesale pricing at gross margins. Vaya customers will continue to be serviced on a “business as usual” basis. Amaysim said it will operate the Vaya and Amaysim brands separately.
