Australian fixed line incumbent Telstra has inked a deal to acquire South Australian broadband provider Adam Internet. While the purchase remains subject to approval from the Australian Competition and Consumer Commission (ACCC), Telstra has confirmed that t will acquire all of Adam’s businesses, including its Adelaide data centre and fibre assets, though financial details of the deal have not been disclosed. Looking ahead, Telstra has already indicated its plans for the alternative operator, confirming that it will help ‘support the South Australian broadband business [to] expand nationally. It has also been confirmed that Telstra intends to retain the Adam brand and run the company as a stand-alone subsidiary.
Commenting on the acquisition, Telstra’s Innovation Products and Marketing Group Managing Director, Kate McKenzie said that the deal aligned with Telstra’s strategic priorities to retain and grow customers and build new growth businesses. Greg Hicks, Adam’s executive chairman, meanwhile noted: ‘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 outcome of this transaction for Adam’s existing customers is simple – Adam will continue to provide excellent value for money broadband that doesn’t compromise on service. The message for potential new customers is that, with Telstra behind it, Adam will be expanding nationally.’