19 Sep tpg iinet acquisition
Sydney-based TPG already owns 6.25 per cent of iiNet.
Despite that, the two brands are still run as separate entities and their products remain unique – at least for now that is. The all-cash deal would be funded by new debt. This is the first set of numbers from TPG to include a contribution from iiNet. © Copyright 2020 Canstar Blue Pty Ltd ACN 142 285 434 The back-end process of combining iiNet and TPG’s customer networks seems a no-brainer, whereas the question remains as to whether TPG – a brand known for its low-cost approach – will attempt to change iiNet’s traditionally strong focuses on innovative products and consumer advocacy. Canstar Blue's website At the end of the day, it’s still unclear as to exactly what TPG is planning to do with iiNet in the long term. 'The cash consideration of $8.60 per share, values iiNet’s fully diluted equity at approximately $1.4 billion. Unified communications vendor Avaya and Tradewinds Brokerage have signed a… Amazon to sell Spacetalk in the UK in deal with MGM WirelessLockdown caused cyber crime spike, says RadwareNew Research from Rapid7 Finds Australia 14th Most Exposed to Cyber Risks
TPG Telecom has announced to the ASX a full acquisition of rival ISP iiNet for approximately $1.4 billion. iiNet shareholders will receive cash consideration of $8.60 per iiNet share, which puts the telco's value at about $1.4 billion. REVIEW PROMOTION You can't always cable in the Internet wherever… Australia would be world leader in 5G if not for Huawei ban: claimNokia retains top spot in rankings as telecom software, services market hits US$66.9 billioniiNet Chairman, Michael Smith, said “The Board views this as a significant reward for shareholders who have shown their faith in iiNet. The ACCC concluded the takeover would not “substantially” lessen competition, and found that the combined competitive constraint from the other major broadband suppliers would stop the market from becoming too concentrated. 2019's 12 biggest channel stories - defined by CRN readers!Cisco names Luke Power to head ANZ channel
This is the first set of numbers from TPG to include a contribution from iiNet. TPG currently had a market capitalisation of $6.14 billion ahead of the offer, while iiNet was valued at $1.11 billion, and TPG will fund the takeover through extra debt. The final hurdle in TPG's quest to acquire iiNet has been cleared with the ACCC giving its blessing to the acquisition. The combined entity will provide broadband services to over 1.7 million subscribers. That said, it sounds like customers can be confident that iiNet’s core principles of great customer service and active support for consumer rights will be maintained. Whilst it raised a few eyebrows, the Australian Competition and Consumer Commission (ACCC) announced that it would not oppose TPG’s acquisition of iiNet – already two of the five largest suppliers of fixed broadband in Australia – despite concern that the takeover may lessen competition, particularly in the short term.The ACCC concluded the takeover would not “substantially” lessen competition, and found that the combined competitive constraint from th… The company provides ADSL-based Internet access, using their own ADSL2+ infrastructure and reselling … ''Further, under the proposed transaction iiNet may pay a material fully-franked special dividend on or shortly before the implementation date of the Scheme, subject to obtaining a favourable ruling from the Australian Taxation Office. It makes intuitive sense – having paid a huge amount of money for iiNet and its unmatched reputation for customer service, TPG is unlikely to mess with the golden formula.TPG takeover: What does it mean for iiNet customers? Post transaction, TPG's pro forma leverage is expected to be approximately 3.1x net debt/EBITDA. I will never forgive him.
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The price of $1.4 billion is a very tangible measure of the value that the extraordinary people of iiNet have created through their innovation, brilliant service and capacity to add value.”Netlinkz Remains on Track for $15 million Revenue by Year EndHow we learned (the hard way) to de-pollute our data lakesDDLS survey reveals a lack of commitment from Australian organisations to cybersecurity trainingRingCentral signs master agent Australian distribution deal with Westcon-ComstorHow Australian business can tap data for growthThe companies report that: "Under the proposed transaction, iiNet shareholders will receive cash consideration of $8.60 per iiNet share. This material may not be published, broadcast, rewritten or redistributed in any form without prior authorisation.It is understood the Australian Competition and Consumer Commission will review the merger.
Finally, the acquisition of iiNet will also make it far more profitable for TPG to buy a mobile service provider with Vodafone Australia the most likely candidate.
lined up a $1 billion bank loan to cut interest costs. This means Aussie customers still have a wide range of options to choose from when looking for a new
By Josh Taylor | March 12, 2015 -- … TPG completed its acquisition of iiNet for $1.56 billion late last year. As always, a great article Sam.
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