PETALING JAYA: Maxis Bhd
's wholly-owned subsidiary, Maxis Broadband Sdn Bhd, has entered into a conditional sale and purchase agreement (SPA) with MEASAT Broadcast Network Systems Sdn Bhd (MBNS), a wholly-owned unit of Astro Malaysia Holdings Bhd, to acquire MBNS’ broadband business assets for up to RM83mil in cash.
Under the SPA, Maxis Broadband will acquire MBNS’ entire broadband subscriber base — which stood at 178,631 active subscribers as of end February — alongside associated contracts, software, equipment and inventories. The transaction excludes MBNS’ brand name, trademarks, and goodwill.
In a filing with Bursa Malaysia, Maxis noted the acquisition aligns with Maxis Broadband's core strategy to drive growth through converged mobile and fixed connectivity solutions.
Integrating the acquired subscriber base expands Maxis’ network footprint and provides significant opportunities to cross-sell and up-sell its range of telecommunication services.
To ensure operational continuity, both parties will execute post-completion support agreements to facilitate the smooth migration of subscribers and integrate network equipment without service disruption.
The purchase will be funded through Maxis’ internally generated funds. The final purchase price is subject to a tiered downward adjustment mechanism based on actual transferring subscribers at completion.
Both the Board of Directors and the Audit and Risk Committee of Maxis have reviewed and approved the acquisition, concluding that the deal is fair, reasonable, and in the best interest of the company and its minority shareholders.
Completion remains subject to Astro obtaining shareholder approval and Maxis receiving written notification from the Malaysian Communications and Multimedia Commission (MCMC) confirming the sale will not be formally assessed.
Barring unforeseen delays, the acquisition is expected to complete by the second quarter of 2027.
