The cash component will be funded from Superloop's cash reserves and available debt facility. The share price for the Superloop acquisition will be $2.38.
A further deferred consideration of $2 million will be paid in cash in instalments in the two-year period from completion.
GX2 provides services to hotels, schools and accommodation providers in five countries, designing, installing and supporting Wi-Fi networks.
"This acquisition provides three main opportunities. First, to support and accelerate the GX2 platform further internationally, secondly for Superloop to leverage this platform at our existing community broadband locations and finally to develop new leading edge offerings in combination with the Superloop network across Asia.”
GX2 founder and chief executive Anthony van der Byl said: “We are excited to be joining the Superloop Group to continue the expansion of our offering. Combining Superloop’s existing systems and infrastructure will help us accelerate into more markets across Australia and overseas.”
GX2 earned $9.2 million in revenue from installation, ongoing management fees and hardware sales of in the 2017 financial year.
The company had about 75% of its business in the Asia Pacific region and the remainder in the US and the UK.