iiNet acquires TransACT for $60 million

TransACT has been scooped up by iiNet for a cool $60 million.

@anthony256
Published Sun, Nov 20 2011 8:25 PM CST   |   Updated Sat, Aug 8 2020 10:29 AM CDT

iiNet have just made their acquisition of Canberra-based TransACT official. The deal included iiNet scooping up the company for $60 million, and TransACT happy with the deal as they were reportedly keen to sell because of the impending rollout of the National Broadband Network (NBN).

iiNet acquires TransACT for $60 million | TweakTown.com

iiNet CEO Michael Malone was quoted:

iiNet's acquisition of TransACT represents an attractive strategic opportunity to build scale in the ACT market quickly and efficiently. In particular, TransACT's experienced and passionate management team will allow iiNet to grow its presence in the SME, corporate and government market segments, a key growth area for the Company. We are also excited about the strong existing relationship between TransACT and ActewAGL, the leading utility provider in the region, and the resulting growth opportunities for both companies.

NEWS SOURCE:gizmodo.com.au

Anthony is a long time PC enthusiast with a passion of hate for games built around consoles. FPS gaming since the pre-Quake days, where you were insulted if you used a mouse to aim, he has been addicted to gaming and hardware ever since. Working in IT retail for 10 years gave him great experience with custom-built PCs. His addiction to GPU tech is unwavering.

Related Tags

Newsletter Subscription
Latest News
View More News
Latest Reviews
View More Reviews
Latest Articles
View More Articles