Our recent acquisition of Canberra-based ISP TransACT has been attracting a great deal of attention since the announcement late last month. This transaction adds 40,000 new customers to the iiNet Group, including 3000 SMEs and 50 big-time government agencies, as well an extensive cable and fibre network. We’re very excited to welcome TransACT’s passionate staff and management team to the iiNet family.
One of the draw cards in our deal with TransACT is that they have a strong position in the ACT, complementing iiNet’s own strength in Western Australia. Much like iiNet, TransACT has been focused on building partnerships in its home market.
“About a third of our revenue still comes from Western Australia and it’s a parochial market,” iiNet CEO Michael Malone said during the transaction period. “I see a lot of similarities there with TransACT, which is deeply entrenched into the Canberra market. [TransACT CEO] Ivan [Slavich] and his team have strong local ties and a well known brand in Canberra.”
TransACT supports more than 50 charity, sports, business and arts organisations on the East Coast including Tropfest, the Canberra International Film Festival, The National Gallery and the Australian War Memorial.
Understandably, plenty of questions have been asked regarding our intentions for TransACT’s advanced fibre network during the NBN rollout. As Michael Malone explained recently, it could be that NBN Co deems the service is sufficient in areas which are covered by the TransACT network.
“The legislation allows for what’s called an ‘adequate service’, so they can say, for instance, Opticom has rolled out to a whole bunch of Greenfield estates in the last year and in those estates NBN is not going to roll out there at all,” Michael Malone responded recently to press.
For now though, we’re over the moon about what the TransACT acquisition brings to our company, and we’re looking forward to harnessing the new bright minds that have joined our ranks.