MyRepublic has left the Australian market and transferred its subscribers to Superloop.
The agreement with Superloop relates to the acquisition of MyRepublic’s Australian National Broadband Network (NBN) subscribers only and does not include any assets or liabilities of the MyRepublic legal entity.
It marks the Singapore-based telco’s exit from the Australian broadband market since its launch in 2016 and is effective from December 23, 2022, with completion expected shortly thereafter.
MyRepublic and Superloop expect the bulk of the subscriber migration to take place in February 2023 pending the completion of network transition. Customers in Australia will continue to enjoy MyRepublic’s residential and enterprise broadband services until then.
The agreement comes as MyRepublic effects a strategic refocus towards profitability and liquidity, lowering costs of operations and a renewed focus on its broadband and mobile businesses in Singapore.
“I love our Australian business. The amazing work that the team has done for MyRepublic these past few years has been a personal point of pride for me. After much deliberation however, we have made the decision to pivot towards a profitable business as we move into the next phase of our journey,” said Malcolm Rodrigues, Group CEO and Co-founder of MyRepublic.
Photo: Edward Lim