Spirit Telecom: Spends $14M on strategic VPD Group acquisition
- Spirit Telecom (ST1) has agreed to strategically acquire VPD Group for $14 million
- According to Spirit, this deal represents its largest and most transformational transaction to date
- Then the $14 million acquisition will funded via $7 million in cash and $5.8 million in Spirit shares
- This acquisition means Spirit can create a new wholesale business called Spirit Partners
- If this is the case, the total purchase price will be capped at $27.5 million
- Following the news, Spirit’s shares are up 9.76 per cent and trading for 22.5 cents each
