Australian carrier Optus has agreed a deal to sell its subsidiary Uecomm to Superloop for AU$17.5 million ($11.3m).

The sale, which is part of Optus' strategic review, was confirmed by Superloop in a regulatory filing on the Australian Securities Exchange.

Superloop, an Australian ISP, noted that the deal will see it acquire more than 2,000 kilometers of high-capacity fiber assets (including 800 kilometers of owned duct).

Optus' fiber network is located across Sydney, Melbourne, and Brisbane/Gold Coast central business districts and metropolitan areas.

In Superloop's filing, the company noted that the agreement will also provide access to more than 1,900 buildings and approximately 50 data centers.

Superloop said it will buy the fiber assets via cash and existing debt facilities, and expects to complete the deal early next year.

The company previously acquired wholesale Fiber-to-the-Premises (FTTP) and student accommodation broadband provider VostroNet Holdings Pty Ltd for AU$35 million ($22m).

“The location of the assets also boosts our Smart Communities ambitions, lowering capex connections to new buildings and broadacre developments,” said Superloop CEO Paul Tyler.

Optus' decision to sell Uecomm comes 20 years after it acquired the company for AU$227 million ($146m), which is significantly more than the current sale price.

Uecomm, originally founded as United Energy Telecommunications (UET) in 1996, has more than 100 employees and provides other services such as VoIP and Ethernet VPN.