iiNet to buy Adam Internet for $60 million

Internet company iiNet is to buy Adam Internet for $60 million, after an Adam deal with Telstra fell through last month.

Telstra abandoned the Adam deal after after nearly a year of negotiations and concern expressed by the Australian Competition and Consumer Commission (ACCC).

iiNet said the ACCC already had approved its purchase of Adam and it expected certain conditions on the acquisition to be met by the end of this month.

Adam has about 70,000 broadband subscribers across South Australia and the Northern Territory.

The deal is expected to take iiNet’s broadband customer numbers beyond 900,000 — via redwolf.newsvine.com

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