GenusPlus expands with strategic acquisition

GenusPlus Group (ASX:GNP), a leading provider of power and communications infrastructure in Australia, has completed its acquisition of CommTel Network Solutions Pty Ltd. The acquisition was finalized under a Deed of Company Arrangement, in line with the Corporations Act 2001. This move is set to bolster GenusPlus's communications division by integrating CommTel's workforce and securing multi-year contracts with Tier 1 customers.

GenusPlus's strategic growth and future outlook

The completion of the acquisition of CommTel Network Solutions marks a strategic milestone for GenusPlus Group. By integrating CommTel into its communications division, GenusPlus not only gains an experienced workforce but also benefits from CommTel's established multi-year contracts with Tier 1 customers. These contracts, framed through Master Supply Agreements, Technical Support Agreements, and Operational Services Agreements, promise recurring revenue streams that align with GenusPlus's corporate strategy. The company is poised to strengthen its position in the communications sector, focusing on scalable network solutions supported by real-time management. With this acquisition, GenusPlus aims to enhance its service offerings and solidify its industry standing, setting the stage for future growth and expansion.

Leadership insights on strategic acquisition

The acquisition of CommTel Network Solutions is a significant growth opportunity for GenusPlus. We are thrilled to welcome the CommTel team, including founders Robert Green and Gerald Molenkamp, to GenusPlus. This acquisition enhances our service offerings and provides a platform for future growth,' expressed GenusPlus's Managing Director, David Riches.