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iiNet buys Adam Internet for AUD 60 mln

2013-08-05 02:11:00| Telecompaper Headlines

(Telecompaper) Australian ISP iiNet will acquire South Australian ISP Adam Internet for AUD 60 million. Rival Telstra earlier tried to acquire Adam Internet but the company could not satisfy the requirements of the Australian Competition and Consumer Commission (ACCC) before the deal expired at end-June this year. Adam Internet has around 70,000 broadband subscribers and revenues in FY 2014 are expected at AUD 55.0 million and EBITDA at AUD 11.5 million. The completion of the acquisition is expected by 31 August as the ACCC has already cleared the transaction.

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Category:Telecommunications

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