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Nexion Group (ASX:NNG) Eyes Blue Skies With Telecom Buyout

Nexion Group (NNG) has entered into an agreement to acquire all the issued share capital of Blue Sky Telecom.

Blue Sky is a national telecommunications and network solution provider, offering industry leading communication solutions to local and national enterprise customers.  

The acquisition comes with an upfront consideration of 10 million ordinary shares in Nexion and a deferred consideration over four tranches.

“The terms of the acquisition have been designed to strongly align the vendor with Nexion’s ongoing success and should the terms of performance milestones be met all shareholders can be expected to benefit strongly in coming years as Nexion’s revenue will have grown very significantly,” said Nexion Co-Founder and Group CEO Paul Glass. Read more…..

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