• Sale of onPlatinum IT Managed Services division to efex for $30M
• Transaction includes $28.5M upfront cash and $1.5M escrow
• Proceeds to reduce debt and return capital to shareholders
• Expected to simplify operations and focus on core businesses
• Transaction expected to close in Q1 FY27

Comms Group Limited (ASX: CCG) announced the sale of its IT managed services division, onPlatinum, to Thinkex Holdings Pty Ltd trading as efex for a total consideration of A$30.0 million. The transaction includes an upfront cash payment of A$28.5 million and A$1.5 million held in escrow for twelve months, subject to completion of agreed conditions. The sale is consistent with Comms Group's strategic focus on its core cloud communications, unified communications, domestic telecoms, and global services businesses. The divestment is expected to strengthen the Company's balance sheet and provide additional flexibility to invest in organic growth and product development. The proceeds from the sale will be applied in accordance with Comms Group's capital allocation framework, including reducing net debt and providing a capital return/distribution to shareholders.

FY26 Revenue: $74.0m-$75.0m, FY26 Underlying EBITDA: $8.0m-$8.5m

Comms Group will provide an update on its financial outlook for FY27, including further details on the distribution of capital proceeds to shareholders, following the settlement of the onPlatinum divestment in Q1 FY27.