iiNet have announced
via a statement on the ASX that they are buying Internode! Internode have also issued a press release
with the details:
iiNet is purchasing 100 per cent of the shares in both Internode and Agile. Internode and Agile will continue to operate as separate business units within the group, retaining their current staff and offices. The current management team, including founder Simon Hackett, are all continuing with the company group.
Under the transaction agreement, iiNet will pay $105m for the deal, in a mixture of cash and shares. Subject to appropriate procedural conditions, the sale is expected to be completed by 29th February 2012
Internode will continue as is, being managed by Simon Hackett and his team. This is a pretty major shake-up in the world of Australian ISPs, so it will be fascinating to see how this changes the landscape. Stay tuned!