Article: iiNet to buy Internode for $105m
You can view the page at http://filesharingtalk.com/content/1...rnode-for-105m
Statement by Internode's Simon Hackett: http://www.internode.on.net/news/2011/12/259.phpiiNet is publicly traded and Internode was privately owned. Not sure when iiNet went into IPO but it's been said that this investment is to tarnish their main competitors. Of coarse I don't believe it but it may be a possibility.
Statement by Internode's Simon Hackett: http://www.internode.on.net/news/2011/12/259.phpiiNet is publicly traded and Internode was privately owned. Not sure when iiNet went into IPO but it's been said that this investment is to tarnish their main competitors. Of coarse I don't believe it but shareholders will end up demanding profits and damage to competitors may be a possibility.
Before anyone jumps to any speculations let me put it simple. Simon Hackett is probably one of the most loyal people in the I.T. industry. I've spoken to him in the early days when I was with Internode; he helped me get on my feet and put me in the right direction - a lot more than other co-founders do with their company. He's also actively involved on Whirlpool. People are speculating that Internode is going to be gobbled up by iiNet, mainly because it's publicly traded and their shareholders would demand profits. Internode is privitely owned and fought for the best of its customers in terms of quality of service/resources. As Simon has stated in his statement this is a good thing for Internode:
Quote:
"With the maturing of the broadband market, Australia is entering an era where the NBN will drive market economics and, in that environment, scale wins. By merging with iiNet, Internode gains access to economies of scale that will ensure its broadband services remain superbly capable and competitive in a market where the major companies will be competing fiercely for customers."
http://www.internode.on.net/news/2011/12/259.php
Re: Article: iiNet to buy Internode for $105m
Quote:
Originally Posted by
reknaw
I've been a loyal 'Node customer for many years now. I really don't know how I feel about this... They say nothing will change for the customers, but I have a horrible feeling that our days of enjoying free, full access to Astaweb are limited. :(
You can't expect an ISP to run the same forever. If that were the case we'd still be dialing our modems. Michael Malone (iiNet co-founder) has also said eventually we'll be getting iiNet perks:
Quote:
Malone told customers on the Whirlpool forum today that Internode customers will soon have access to a range of iiNet products and services including Freezone, BoBsquad and extra fetchtv channels.
http://www.itnews.com.au/News/285219...-for-105m.aspx
http://forums.whirlpool.net.au/forum...m?t=1835523#r1
Simon still has a ~7% stake in iiNet so I don't think shareholders would have a significant value. After 12 months he has the option to purchase more shares if he so wishes. Exciting times are ahead of us now that the NBN seems to be a reality.
