iiNet acquires Internode

21 02 2012

National ISP iiNet has today (22 December 2011) announced the acquisition of competitor Internode in a $105 million deal.

The acquisition will see iiNet add a further 190,000 broadband DSL subscribers and 260,000 active services. Internode has forecast FY12 earnings of $180 million.

Internode founder and MD Simon Hackett will remain as part of the executive team at Internode.

The acquisition by iiNet will solidify its position as the second largest Australian ISP in the residential broadband DSL market.

The acquisition is due to be completed on 29 February 2012.

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