Consumer infrastructure business of Spirit Technology Solutions sold to DGtek
ASX-listed Spirit Technology Solutions (Spirit), a leading Australian aggregator of communications, cyber security and IT solutions, successfully divested its consumer infrastructure business to DGtek for $5.1 million.
Spirit made the strategic decision to take its consumer infrastructure business to market as a part of its shift to increasingly focus its growth and investment on the business market, covering SME to corporates, and away from retail.
DGtek is an independent provider of ultra fast, full-fibre broadband internet services - designing, building, operating and maintaining high-speed optical fibre networks across Australia and is backed by private equity investors Treia Capital and MA Financial Growth Capital Fund (Moelis Australia).
Spirit appointed BDO to manage the sale throughout the entire process and led by Mergers & Acquisitions Partner Tony Schiavello, supported by Director Silvio Colaluca and Senior Manager Lachlan Cantwell, BDO advised Spirit through to successful completion of the sale to DGtek in October 2021.
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