[LINK] iiNet buy Node

[Jan Whitaker]

http://www.theage.com.au/it-pro/business-it/another-small-isp-bites-the-dust-20111222-1p6yx.html

Continuing on an acquisition spree, iiNet announced today it will be 
acquiring South Australia's Internode for $105 million and with it 
260,000 active customers and 35 existing exchanges nationally.

The price tag will be made up of cash and shares with 12 million 
iiNet shares going to Internode's managing director Simon Hackett. 
Hackett will stay on as head of the separate business unit and 
Internode will retain its brand.

The move helps the combined entity consolidate efforts to better 
compete for NBN services, the companies' chiefs said in a surprise 
press conference this afternoon.
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Hackett and iiNet CEO Michael Malone said neither company was of the 
ideal size to enter the NBN era, but together it made sense.
[more at the link]


Melbourne, Victoria, Australia
jwhit at janwhitaker.com
blog: http://janwhitaker.com/jansblog/
business: http://www.janwhitaker.com

Our truest response to the irrationality of the world is to paint or 
sing or write, for only in such response do we find truth.
~Madeline L'Engle, writer

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