Since relisting on the ASX in late June, Internet provider, Spirit Telecom (ASX:ST1), has experienced exponential growth, with plans now in place to seek a suitable target for acquisition.
According to Spirit, an external company has already been approached to assist the company in the targeting process.
The company has continued its momentum through its operational expansion, recently bringing on board more than 50 commercial and residential buildings onto its network.
As a result of funds acquired from the ASX listing, Spirit Telecom has also increased its marketing expenditure specifically for the residential market.
Alongside business development and marketing expenditure, the company has also invested in Spirit’s core network upgrade and expansion.
In response to increasing demand in Queensland, Spirit has confirmed its plans to expand its network to NEXTDC in Brisbane, with the company also in the process of upgrading NEXTDC in Melbourne and Equinix in Sydney in order to accommodate the increase in demand and maintain the current network performance.
Additionally, after the launch of 200/200Mbps in 2015, Spirit has now launched 400/400Mbps into Freshwater Place, one of Melbourne’s premier residential apartment buildings.