Nigerian internet service provider and digital infrastructure company Legend Internet Plc (Legend) has announced a merger with Spectranet Limited, signalling a unification in the country’s competitive broadband market.
The move is part of a long-term strategy to expand broadband infrastructure and strengthen the company's position within the telecommunications sector, says Legend.
The combined entity will have an estimated market capitalisation of $58 million (₦80bn), making it the largest internet service provider in Nigeria.
The merger agreement follows resolutions passed by the board of directors in October 2025 and by shareholders in November 2025.
While completion of the transaction is anticipated in Q2 2026, the process remains subject of approval from relevant regulatory authorities, including the Federal Competition and Consumer Protection Commission and the Nigerian Communications Commission.
This marks a pivotal moment for the industry and positions the firm to build a future-ready digital platform that delivers world-class connectivity while creating sustained value for shareholders, says Aisha Abdulaziz, CEO of Legend Internet Plc.
Under the merger, the businesses and operations of both entities will be combined under a unified corporate structure.
The integration of fibre and wireless infrastructure is expected to enhance network capacity, improve operational efficiency, and expand coverage across key urban markets.
With a stronger capital base and improved infrastructure, the entity is well-positioned to invest in next-generation technologies and expand into new markets, says Dr Oladimeji Bada, chairman of Legend Internet.
Following the merger, the new entity will face its most direct competition from a mix of satellite providers and established mobile giants.
Primary competitors include Starlink, as well as mobile network operators such as MTN and Airtel, who have aggressively expanded into the fixed-broadband market using 4G and 5G infrastructure. IpNX also remains a direct rival in the fibre space, known for high-speed residential connections in urban centres like Lagos and Abuja.
The transaction is expected to be value-accretive to shareholders over the medium to long term, notes Legend.
The company remains committed to transparency and will continue to keep the Nigerian Exchange Limited and the investing public informed of any material developments.
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