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Telstra takes over Adam
Kelly & Co has acted for internet service provider Adam Internet on its sale to Telstra.
Digital
Firms: Kelly & Co. (Adam Internet);
Area: M&A
Value: Undisclosed
Key players: The Kelly & Co team was led by M&A partner Jamie Restas and assisted by senior associate Shane Lloyd. Partner Peter Campbell managed the competition-related aspects of the deal.
Deal significance: The agreed acquisition, which is subject to ACCC approval, will see Telstra acquire all of Adam’s business, including Adam’s Adelaide data centre and fibre assets.
Telstra will retain the Adam brand and run the company as a stand-alone subsidiary of Telstra. “It was pleasing to assist a great South Australian-based business in Adam Internet achieve a great result that will see it expand nationally,” said Restas.
