IT News — Carwardine joined the Navy at 15 and spent the next 15 years on Naval destroyers and in submarines before deciding to pack it all in to write code for Qantas. Turns out being underwater and being a father were not compatible occupations. But there are a few parallels between manning a military vessel and heading up IT and network operations for a multi-channel telecommunications group.
TPG inched closer to attaining its hard-fought goal of buying out rival internet service provider iiNet yesterday, but it faces a nerve-wracking wait to learn the deal’s regulatory fate. iiNet and TPG yesterday registered their scheme booklet with the Australian Securities and Investment Commission (ASIC) after an independent reviewer found the $1.56 billion share and cash-based offer to be “fair, reasonable and in the best interests of shareholders”.
Australia’s competition watchdog has raised concerns that the takeover of internet service provider iiNet by rival TPG would substantially lessen competition in the market and negatively affect customer service. The ACCC today outlined its preliminary stance on TPG’s proposed $1.56 billion acquisition of iiNet and approached the market for views on the effect the takeover would have on both the industry and end users. TPG’s acquisition of iiNet would merge two of the five biggest fixed broadband providers into the country’s second largest behind Telstra.
SYDNEY: Australian Internet provider iiNet Ltd has urged more than 30,000 customers to change their passwords after claims emerged online that hackers had been attempting to sell personal information stolen from one of the firm’s databases. News of the potential data breach at Australia’s third-largest web provider first emerged on Twitter, where it was alleged an unnamed hacker was offering to sell a database that included client passwords, home addresses and telephone numbers.
iiNet is planning to offer free legal advice to customers alleged to have shared infringing copies of Dallas Buyers Club online. The internet service provider yesterday said it was working with an unnamed law firm that has offered to provide pro-bono services to alleged copyright infringers. iiNet declined to provide further detail. iiNet’s financial controller Ben Jenkins also said the ISP will alert customers whose details are handed over to the owners of the Dallas Buyers Club film.
iiNet and several other internet service providers have been ordered to pay most of the court costs for the owners of the Dallas Buyers Club film for being “adversarial” in the proceedings. Justice Perram today ruled that by putting “nearly everything in issue”, iiNet, Internode, Dodo, Amnet, Adam Internet and Wideband Networks had adopted an adversarial stance and therefore should be required to pay a significant portion of DBC LLC’s costs.
TPG has upped its bid for iiNet to $1.56 billion and offered shareholders a choice of shares or cash, gaining the iiNet board’s support for its new bid over that of rival M2. iiNet last week gave TPG a chance to increase its March $1.4 billion all-cash offer after receiving a $1.6 billion scrip-based bid from M2. Today iiNet announced TPG had boosted its offer to $9.55 per iiNet share, including a $0.75 special dividend.
iiNet’s board has today given TPG an opportunity to raise its $1.4 billion bid for the company to either match or better rival M2’s $1.6 billion offer. M2 sparked a potential bidding war for iiNet this week when it revealed it had exceeded TPG’s March offer with an all-scrip $1.6 billion bid for the in-demand internet service provider. The deal would see iiNet shareholders receive 0.803 of an M2 share per iiNet share and a 75c special dividend.
M2 CEO Geoff Horth has promised to maintain the iiNet brand as a standalone operation and preserve its much-touted customer advocacy should its $1.6 billion offer for the company be accepted. The ISP today made a play for its rival following TPG’s March all-cash offer to take over iiNet for $1.4 billion. In its own offer, made public today, M2 took heed of shareholder concerns about the future of iiNet’s customer service and advocacy should the offer from low-cost operator TPG be accepted.
Internet service provider M2 Telecommunications has sparked a bidding war for iiNet, coming in with a higher, all-scrip offer than TPG’s March offer of $1.4 billion. M2’s play at iiNet today offered $11.37 per share, giving the company an enterprise value of $2.25 billion. Excluding $1.37 per share of estimated synergies, the deal sits around $1.6 billion. TPG in March offered to take over iiNet in an $1.4 billion all-cash deal. M2 today said it would operate iiNet as a standalone brand, and had extended an offer for two iiNet directors to join its board, should the deal go through.
The owners of the Dallas Buyers Club film want iiNet and a number of other internet service providers to hand over the details of 4700 alleged copyright infringers within two weeks. The parties were back in court today following Justice Perram’s ruling earlier this month that iiNet, Internode, Dodo, Amnet, Adam Internet and Wideband Networks hand DBC LLC the customer details of those the rights holder claims shared its film online without authorisation.
Internet service provider TPG has posted strong customer and revenue growth as it works toward taking over rival ISP iiNet. TPG recorded an 18 percent rise in net profit for its first half of fiscal 2015, to $107 million. Its consumer broadband subscriber base grew by 38,000 to reach 786,000, buoyed by the addition of 17,000 customers on TPG’s own fibre-to-the-basement network and wholesale NBN plans, and 21,000 DSL customers.
Sixteen chief executives from Australia’s top phone and internet providers have banded together to demand the Government come clean on how much it plans to contribute towards the cost of its data retention scheme. The telco CEOs today penned a letter to Attorney-General George Brandis and Communications Minister Malcolm Turnbull to demand transparency on the funding allocation ahead of the planned debate of the proposed legislation in the House of Representatives tomorrow.
Internet service provider TPG has made a $1.4 billion play for iiNet, in a move that will see the combined group leapfrog Optus to become the country’s second largest broadband provider. The buyout will create a telco with combined revenues of $2.3 billion. The deal would see TPG’s customer base balloon to 1.7 million subscribers – including iiNet’s more than 60,000 NBN and fibre subscribers – “delivering scale benefits in an NBN environment”.
iiNet has paid out $204,000 in penalties over advertisements for its 250GB naked broadband plan after being issued with two infringement notices by the consumer watchdog. The Australian Competition and Consumer Commission today said the ads had failed to prominently display the minimum price of the service, giving the ACCC “reasonable grounds” to believe iiNet had contravened consumer law.
iiNet and Dallas Buyers Club face a three-week wait to find out whether the rights holder can obtain the names and residential addresses of almost 5000 people it claims downloaded its movie without paying last year. In the final hearing of a preliminary discovery trial between the rights holder to the Dallas Buyers Club film and the internet service provider, Justice Nye Perram today withheld his judgment for three weeks on whether iiNet should hand over the customer details.
Internet service provider iiNet is closing the gap between itself and Australia’s second largest broadband provider Optus after posting significant growth in both revenue and fixed-line subscribers in its first half. iiNet today reported a one percent rise in net profit for its first half of fiscal 2015 to $32 million, and a jump of 25,000 broadband customers. The increase in fixed-line users has pushed iiNet to a customer base of 975,000 – just 13,000 behind Optus’ 988,000 broadband customers.
iiNet lawyers today sought to discredit the method by which Dallas Buyers Club LLC collected internet protocol (IP) addresses of those it claimed had downloaded and shared versions of its film of the same name. The internet service provider (ISP) is one of a handful resisting rights holder attempts to obtain customer details attached to IP addresses Dallas Buyers Club claimed were involved in copyright infringement.
A data center in Western Australia was knocked offline due to equipment failure and record-breaking temperatures in the area. A heatwave that caused outside temperatures to rise to about 112F brought internet service provider iiNet‘s data center down. Those that operate data centers are very familiar with the importance of cooling. Servers can give off tremendous heat, and lack of adequate cooling can lead to disastrous results.
iiNet will build and operate Victoria’s free wi-fi network under a $6.7 million deal with the state government and Melbourne City Council. The telco pushed go on the first three wi-fi regions – in the Melbourne, Ballarat and Bendigo CBDs – today, adding to the list of cities across the country where the ISP has been contracted to roll out free wi-fi networks under various digital economy-boosting schemes. It has already won similar jobs in Perth and Canberra, and its subsidiary Internode will do the same for the Adelaide CBD.