iiNet Buying Internode

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iiNet Buying Internode

Post by trog @ 04:16pm 22/12/11 | 43 Comments

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!

internode iinet

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dais
Posted 04:17pm 22/12/11

Woah, big news.

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blahnana
Posted 04:18pm 22/12/11

Internode statement: http://www.internode.on.net/news/2011/12/259.php

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darkjedi
Posted 04:21pm 22/12/11

RIP Internode. You were awesome while it lasted. I for one do not welcome the iiBorg.

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ravn0s
Posted 04:22pm 22/12/11

thought internode would be bigger than that.

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Coldy
Posted 04:22pm 22/12/11

WOW. Thats a big one.

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qmass
Posted 04:27pm 22/12/11

iinet rules, internode customers are weird loyalist nerds who need to get over their 'team' affiliation. Bigger means cheaper with iinet... their plans are already pretty well priced.

edit: how do they line up against telstra with this purchase? (are they even 50%?)

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Scooter
Posted 04:28pm 22/12/11

Heh, I too thought Internode would be bigger than just 260k connections.

How will iiBorg stack up against Telstra for connection numbers? It would be good if they could be on the same level as Telstra/Optus and knock those 2 down a few pegs.

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Crusher
Posted 04:32pm 22/12/11

I am under attack from all sides by iinet.

Office phone lines were with AAPT, now owned by iiNet.
Office internet with Internode, now iiNet
Home internet with Netspace, now iiNet

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$ack
Posted 04:32pm 22/12/11

There goes internodes news servers, any other ISP's offering free premium news servers?

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gamer
Posted 04:54pm 22/12/11

having been with both i goto say that its disappointing internode are being brought out...

all because simon is scared his massive investment in chucking out the AGILE enabled exchanges throughout australia will mean nothing when the NBN rolls out...

hes basically dumping and running...

really sad to see my favourite ISP ... becoming less then it could have been ... iiBorg ++

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Focumba
Posted 05:01pm 22/12/11

Damn!!!!

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Bah
Posted 05:00pm 22/12/11

Finally maybe this means iinet will have some decent games files mirrors, because they are pretty useless for that.
Also maybe some plans that dont do the offpeak bullshit. (although doubtful they usually kill the old plans and move them to the iinet system dont they?)

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Pinky
Posted 05:20pm 22/12/11

Massive news!

RIP Internode. You were awesome while it lasted. I for one do not welcome the iiBorg.

lolwut? I was with iiNet, loved them. Moved house, couldn't get iiNet, ended up with Internode, love them. It makes no difference to me - I'm happy with the news as a 'node customer.

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FraktuRe
Posted 05:28pm 22/12/11

Holy crap, I thought internode would be bigger. I wonder if they'll make an incentive to switch to iinet/stay with node.

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Pinky
Posted 05:30pm 22/12/11

Surpised IIN didn't rally on this news - maybe tomorrow morning? http://www.google.com/finance?q=asx%3AIIN

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IVY_MiKe
Posted 05:43pm 22/12/11

I knew node weren't as big as it seems some here are thinking.
(They've never been massively available outside east coast capitals, but where ever it is available, I thought it was thriving)

It's a shame that iiNet are rapidly cornering the AU Market, but as far as I'm concerned, iiNet haven't done anything openly shite to Aussie users, so it's with a shakily open arms that I welcome the new Telecoms monopoly.

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Triamks
Posted 06:04pm 22/12/11

I thought Simone Hackett came out weeks ago when this was first mooted and dismissed any sale as pure speculation? I guess he was keeping his cards close to his chest.

$105m seems like a cheap price to pay to be honest.

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Twisted
Posted 06:17pm 22/12/11

I thought Simone Hackett came out weeks ago when this was first mooted and dismissed any sale as pure speculation? I guess he was keeping his cards close to his chest.

Plenty of companies have offers on the table. It's always speculation until they get an offer which is in the best interests of the share holders. And this was in the best interest of the share holders. So ~~they~~he cashed out. Good on him, from the sounds of it he will be getting a good gig at iiNet as part of it all too as well as bags of money.

Wonder what it means for TPG as far as their attempts at iiNet.

$105m seems like a cheap price to pay to be honest.

Not really...he's basically just on selling his customers really. I mean how much could their assets and things be worth really? They don't really have much infrastructure, they don't own buildings and things, probably just rent them.

last edited by Twisted at 18:17:50 22/Dec/11

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crazymorton
Posted 06:17pm 22/12/11

was with iiNet, loved them. Moved house, couldn't get iiNet, ended up with Internode, love them. It makes no difference to me - I'm happy with the news as a 'node customer.

me to pinky, exact same situation. what's the ACCC say (haven't read article yet) thought there might be some issues?

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carson
Posted 06:25pm 22/12/11

I thought Node was bigger than that. Oh well, will be interesting to see what this means for the future.

As an ex-iiNet customer I must say they are pretty decent as an ISP. Internodes rural coverage is pretty much non-existent so I've never been with them.

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`ViPER`
Posted 06:31pm 22/12/11

I always thought this would happen, seemed like a pretty obvious idea.

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hardware
Posted 06:37pm 22/12/11

WHAAAAAAAAAAAAAAAAAAAAAAT

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Raven
Posted 06:40pm 22/12/11

Next target: TPG.

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qmass
Posted 07:03pm 22/12/11

Next target: TPG.

I hope not. At least inode is a good reliable service and in my experiance so is iinet. TPG anywhere I have seen and heard is overloaded and has issues with transparent proxy serving up old copies of sites all the time? (Maybe that is angry customer opinion though)

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Triamks
Posted 08:51pm 22/12/11

They don't really have much infrastructure, they don't own buildings and things, probably just rent them.

My understand was Internode was one of the few companies that owned a lot of their infrastructure which was why they could offer such QOS.

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sleepy
Posted 08:54pm 22/12/11

I am with Internode and have been for aaaaages.

Never had a drama, in fact I am more than satisfied.

One thing I like is the support it spot on.
Hope that doesnt change.

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Scooter
Posted 09:05pm 22/12/11

I just delt with iiNet support (line was broken somewhere) and they were spot on.
Well... the WA call centre is tops... not so much the SA one... but even the SA gets the Job done.

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Tollaz0r!
Posted 09:14pm 22/12/11

Iinet have been nothing but outstanding for me.

Pinky no rally because;
1 christmas period = very low volume
2 asx currently underperforming by a large % compared to djia

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mongie
Posted 10:42pm 22/12/11

iiNet is some weird lovechild of a lot of reasonable sized ISPs.

Powerup/Ozemail.
Internode
AAPT
Westnet
AAPT

I'm sure there are others...

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ravn0s
Posted 10:47pm 22/12/11

I'm sure there are others...

AAPT

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mongie
Posted 10:50pm 22/12/11

that seems weird...

I wrote AAPT, and then you did too.

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Grundar
Posted 10:51pm 22/12/11

Well that sucks. Very happy with Internode, bad experiences with iiNet.

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Skitza
Posted 11:00pm 22/12/11

I dont know if this is a good thing or not. Never dealt with iiNet but Internode are great. DONT GO TO SHIT FFS!

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Triamks
Posted 11:24pm 22/12/11

I dont know if this is a good thing or not. Never dealt with iiNet but Internode are great. DONT GO TO SHIT FFS!

I just hope it means we keep everything we have and get everything iinet users have.

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Pinky
Posted 11:30pm 22/12/11

Iinet have been nothing but outstanding for me.

Pinky no rally because;
1 christmas period = very low volume
2 asx currently underperforming by a large % compared to djia

Yeah fair call.

Just had a look at the price when they aquired AAPT and Netspace - didn't do much then either. Did more when it aquired TransACT last month.

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Legit101
Posted 03:01am 23/12/11

Woah, I'm with Internode too. I really hope this is good news... not bad.

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The-Makkaan
Posted 05:19am 23/12/11

Well at least iinet is Australian and not some american or other country trying to buy our infrastructure and then make it crap and sell it to china or some crap.

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Tepid
Posted 09:29am 23/12/11

oh and dont forget AAPT.

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Hogfather
Posted 09:34am 23/12/11

Fucking countries buying up all our companies. They should stop that.

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Pinky
Posted 10:17am 23/12/11

Well at least iinet is Australian and not some american or other country trying to buy our infrastructure and then make it crap and sell it to china or some crap.

For now...

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Tollaz0r!
Posted 10:20am 23/12/11

Just looked at IIN chart, they have performed quite well. Outperformed the XJO with by a good margin. Over the last 3 months anyway.

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eski
Posted 11:46am 23/12/11

I remember the good old days of dad calling tech support for our dialup in '95 and getting Mike Malone in his garage full of servers. I'm still with them now.

We use Westnet at work and while its still really good the quality of their service has declined noticeably since being acquired by iinet.

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Opec
Posted 08:49pm 23/12/11

Yeah got that email as well... I sure hope that a) Service level is the same, 2) Prices get cheaper. Otherwise I'm going back to Telstra now that their plans are quite reasonable.

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