PEP closes in on Opal HealthCare | Salt er Bros’ next tech investment | Perpetual s ells down at Star

Good evening,

Salter Brothers’s technology fund is set to make a big bet on regional Australia, homing in on a Brisbane-based telecommunication reseller which is forecast to throw off annual revenue of more than $75 million.

Street Talk understands the Melbourne-based fund (SBTF), managed by Gregg Taylor, has entered into exclusive terms for a 100 per cent acquisition of Bigblu Broadband’s SkyMesh which provides satellite and fixed wireless internet services, primarily to regional and remote communities.

The deal is not completed and remains subject to financing. SBTF hopes to have everything wrapped up before the end of this calendar year and has launched a co-investment raise, seeking to raise up to $15 million from its investor base to invest alongside SBTF as the cornerstone.

Read the full story tomorrow and more on the Street Talk page.

The Australian sharemarket started the week on the front foot, tracking a positive lead from Wall Street as investors braced for a busy week headlined by the US presidential race, which is set to come down to the wire.

Click here for the latest equity market wrap.