The company will acquire 77,000 mobile subscribers from Optus for $15.8m. Macquarie expects the transaction will be modestly accretive in FY21. Amaysim has also reiterated FY20 guidance for underlying operating earnings of $33-39m.
Macquarie resumes coverage following a period of research restrictions, with a $2.50 target and Outperform recommendation. The $120m acquisition of Click Energy was completed on May 1 which diversifies the business into energy retailing.
The company has acquired start-up internet service provider Australian Broadband Services for $4m in a mix of cash and scrip. Macquarie is not surprised by the acquisition as amaysim had flagged its interest in broadband services.