iiNEt snaps up Froggy
IINET has entered into a contract with the receiver of FlowCom and Flow Communications to buy the FlowCom ISP business which comprises primarily of Froggy Internet and and Flow ADSL customer bases.
The company will pay $6.3 million for the acquistion.
According to FlowCom and Flow Communications receivers and liquidators Pricewaterhouse-Coopers, iiNet will offer continuing employment to the majority of staff working in the Flow ISP business.
The Flow business generates annualised revenues of about $12.5 million.
With its acquisition iiNet’s total number of customers in Australia and New Zealand is now about 350,000.
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