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iiNet was founded in 1993 by Michael Malone and Michael O'Reilly, who started the business in a suburban garage in Perth as iiNet Technologies. It began as one of the first Australian ISPs to offer TCP/IP Internet access [citation needed], as opposed to the store-and-forward techniques (such as MHSnet) that were then in use at other ISPs.
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In 1995, OzEmail established a New Zealand offshoot, Voyager Internet, and was one of the first Internet providers in the country to go nationwide. [3] Following the WorldCom scandal and its subsequent pulling out of consumer Internet services, [4] [5] [6] by 2002 its customer base had been largely acquired by Telecom New Zealand's Xtra.
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The first commercial dial-up Internet Service Provider (ISP) appeared in capital cities soon after, [5] and by the mid-1990s, almost the entire country had a range of choices of dial-up ISPs. [5] Today, Internet access is available through a range of technologies, i.e. hybrid fibre coaxial cable , digital subscriber line (DSL), Integrated ...
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On 13 March 2015, TPG advised of its intent to take over Australia's third Largest ISP iiNet at A$8.60 per share, giving a value of $1.4 billion. [17] TPG offered $8.60 per iiNet share, on top of the entitlement to the already-declared 10.5-cent interim dividend, valuing iiNet at about 21 times its underlying net profit for 2014.
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