Optus has agreed to purchase Vividwireless for $230 million in order to establish its own 4G network.

Kerry Stokes, chairman of Seven Group Holdings, the group that owns Vividwireless, has agreed to sell of the wireless provider for $230 million.

According to a statement from Optus, the purchase will enable the telco to access up to 98MHz worth of spectrum in the 2.3GHz band.

Optus plans to use this spectrum to build a new 4G Network, which it claims will provide wireless download speeds ranging from 25Mbps to 87Mbps (depending on signal strength).

“The acquisition of Vividwireless will give Optus a significant increase in network capacity to address the next wave of data growth that is just around the corner,” said Paul O’Sullivan, CEO of Optus. “By integrating it with our current 4G rollout (in the 1800MHz band), we will be able to provide increased mobile speeds to our customers in metropolitan Australia.”

Vividwireless is part of the same organisation as Unwired, which The Seven Group bought in 2008 for $127 million, according to a report in The Register.

“For Seven Group Holdings, this sale recognises value for the investment we’ve made in Vividwireless,” said Peter Gammel, CEO of Seven Group Holdings. “Optus’ expertise will allow the business to grow into the future and take the pioneering work we’ve done in 4G to the next level.”