In a surprising move, Telstra have reportedly just purchased Adelaide-based Adam Internet in a deal that could be worth $50 million. The telco announced this morning that they had entered into an agreement to acquire the Adelaide-based ISP, but didn't disclose the exact amount of money on the table.
Adam Internet currently employ 200 staff and have over 80,000 customers, who should be all unaffected by the deal. Adam Internet would continue to operate as a stand-alone subsidiary of Telstra. Adam Internet's executive chairman, Greg Hicks, will stay on as a consultant to the company for twelve months if the deal goes through. Hicks said that Adam and Telstra "shared customer service philosophy was a pivotal reason behind today's announcement". He adds:
This agreement will help cement a strong future for the Adam brand, our people, and our customers and represent the next stage of Adam's growth. Adam will continue to provide excellent value-for-money broadband that doesn't compromise on service. The message for potential new customers is that, with Telstra behind it, Adam will be expanding nationally.