iiNet fattens up after eating Netspace and AAPT consumer arm
Swallowing competition is good for you
iiNet’s acquisition frenzy has delivered strong results for the Perth-based ISP, which produced revenue growth of 45 per cent to A$330m in its half-year results.
The carrier’s first half 2011 EBITDA was up 25 per cent to A$46.8m, with total broadband customers up 20 per cent to 650,000, from around 443,000 a year earlier.
iiNet CEO Michael Malone said the company's focus on "retaining profitable customers, expanding its product offering and achieving scale, differentiated us from other internet service providers and underpinned our growth”.
The carrier has been integrating the assets of recent acquisitions Netspace and the consumer division of AAPT.
“Scale has become increasingly critical given the changing market dynamics. Following the acquisition of AAPT’s consumer division last September, we achieved our strategic goal of becoming the leading challenger brand,” Malone said. ®