Middletons has acted for iiNet Limited in its recent acquisition of Internode, Australia's second largest privately owned broadband services company. Based in South Australia, Internode has approximately 260,000 active internet and phones services, including approximately 190,000 broadband subscribers. This is the second major acquisition for iiNet in as many months, following the company's recent $60 million acquisition of TransACT, a leading Canberra based telecommunications company with 40,000 customers.
Both of these acquisitions clearly cements iiNet's position as "the new number 2 provider" of DSL broadband and strengthens the company's position in the new NBN environment.
Commenting on the acquisition of Internode, iiNet's Managing Director Michael Malone said, "This transaction will allow iiNet to leverage the market opportunities presented from a base of greater scale and consolidates iiNet's national presence by bringing together two leading customer service focused brands in the industry."
Middletons partner Adam Levine said, "Middletons is delighted to continue its close relationship with iiNet and to have assisted with both of these significant acquisitions. The acquisitions involved detailed due diligence and the negotiation of a complex transaction documents. All of this was achieved in a very tight timeframe."
The Middletons partners acting on the deals were Adam Levine and Simon Salter along with Middletons consultant Clare Power.