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iiNet grabs three

PERTH-based Internet service provider iiNet has entered binding contracts to acquire fellow Perth-based ISPs Networx, Octal and Infinite Data.

The cash acquisitions will increase iiNet’s client base by 3,700 to 44,000 customers.

iiNet managing director Michael Malone said customers of Networx, Infinite Data and Octal would receive full credit for prepaid fees.

The acquisitions are subject to due diligence.

The company will continue with its program of acquiring ISPs as opportunities arise.

iiNet also recently released a wireless service to deliver high speed Internet access to small and medium-sized business users.

Designed as an alternative to Telstra’s ISDN and Frame Relay, the Cityspan service will be available to more than 80 per cent of the Perth metropolitan area by the end of this month.

The service will offer speeds of up to two Mb for prices starting at $299 per month.

iiNet director of broadband services Andrew Milner said customers could typically expect to save 30 per cent over an equivalent 128k ISDN service with savings increasing as more bandwidth was used.

“The incumbent carriers charge very high rates for anything faster than a modem,” Mr Milner said.

The service is provided via an ethernet connection that connects directly to the customer network or firewall – eliminating the need for an expensive router.

According to the company’s results for the six months ending 31 December 1999, iiNet enjoyed an 80 per cent increase in subscriber accounts and an operating profit after tax of $910,000.

The directors have decided not to declare an interim dividend.

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