Fundz

Service Stream to buy Programmed for $975M

PRIVATENov 09, 2026

Acquiring Company

Service Stream Limited

Acquired Company

Programmed

SydneyAustraliaHardwareFacility ManagementFacilities Support Services

Description

Service Stream has agreed to acquire the operations business Programmed for $975 million, at 6.1 times EBITDA after run-rate cost synergies. The deal will be financed through an expansion of existing debt facilities and a fully underwritten $475 million equity raising. Service Stream expects $30 million in initial run-rate cost synergies and more than 20% uplift to pro forma FY2027 earnings per share.

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Company Information

Company

Service Stream Limited

Location

Sydney, New South Wales, Australia

About

Service Stream Limited is a public company listed on the Australian Securities Exchange. It provides essential network services to the telecommunications, utility, and transport sectors. The company employs approximately 5,000 staff and uses a pool of about 10,000 specialist contractors.

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Frequently asked

Who acquired Programmed?

Programmed was acquired by Service Stream Limited, based in Sydney. The deal was reported on November 9, 2026. Service Stream Limited is a public company listed on the Australian Securities Exchange. It provides essential network services to the telecommunications, utility, and transport sectors. Service Stream Limited is privately held and operates in Hardware.

When did Service Stream Limited acquire Programmed?

Service Stream Limited's acquisition of Programmed was reported on November 9, 2026. Service Stream has agreed to acquire the operations business Programmed for $975 million, at 6.1 times EBITDA after run-rate cost synergies. Fundz records the date the transaction was first publicly reported, sourced from filings and company announcements.

What does Programmed do?

Programmed is an operations business in the facility and infrastructure services sector. It is being acquired by Service Stream for a purchase price of $975 million. It is privately held, operating in Facility Management, and is based in Australia.

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