The Ontario Teachers’ Pension Plan reached an agreement to acquire 70 per cent of three Australian telecommunications companies from Leighton Holdings Ltd., Teachers’ said Wednesday. In a release, Teachers’ said full value of the acquisition of the three companies, Nextgen Networks, Metronode and Infoplex, is valued at $885 million and that Sydney-based Leighton will maintain a 30 per cent share. Teachers’ said Nextgen manages high-speed fibre network services, Metronode provides data services, and Infoplex offers cloud and information communication technology services. Teachers’ said the transaction would bring the three companies together under one umbrella in Australia and keep existing management “largely” in place. “The transaction is subject to various approvals (including Australian Foreign Investment Review Board) and is expected to close in mid-2013,” the release said. Teachers', together with BCE Inc., Providence Equity Partners and Madison Dearborn Partners LLC, last year acquired Canadian data centre operator Q9 Networks. Also last year, BCE and Rogers Communications Inc. completed their joint purchase of Teachers' controlling stake in Maple Leafs Sports & Entertainment (MLSE).