Australian telco Telstra has agreed to acquire ISP Adam Internet, according to a company statement.
The deal was rumoured to have made Adam’s executive chairman Greg Hicks AUS$55m (US$57.1m), according to media reports.
Telstra will acquire all of…
Australian telco Telstra has agreed to acquire ISP Adam Internet, according to a company statement.
The deal was rumoured to have made Adam’s executive chairman Greg Hicks AUS$55m (US$57.1m), according to media reports.
Telstra will acquire all of Adam’s business, including its data centre and fibre assets, dependent on regulatory approval.
The Adam brand will be retained and the company will be run as a stand-alone subsidiary of Telstra.
“Adam is a respected brand with a loyal customer base in South Australia,” said Kate McKenzie, innovation products and marketing group managing director at Telstra. “It’s a great online, low cost business that lets customers purchase and manage their own services. “This model offers opportunities for growth, particularly for consumers wanting online sales and support.”
Adam executive chairman Greg Hicks commented: “This agreement will help cement a strong future for the Adam brand, our people, and our customers and represent the next stage of Adam’s growth…The message for potential new customers is that, with Telstra behind it, Adam will be expanding nationally.”
