TransACT buys 100 per cent stake in Grapevine

Buys out ActewAGL’s 50 per cent stake in the Canberra-based ISP

TransACT has bought out ActewAGL’s 50 per cent stake in Grapevine making it the whole owner of the Canberra-based ISP.

TransACT and ActewAGL were the two founding companies behind Grapevine which launched as a joint-venture ISP in April 2005.

Prior to 2005 the company was known as NetConnect and was solely owned by ActewAGL.

Grapevine has more than 20,000 customers and supplies broadband to customers in the ACT and parts of Queanbeyan NSW via the TransACT network.

Outside of these regions the ISP supplies services around Australia – particularly in Sydney and Melbourne -- via a national network.

TransACT CEO Ivan Slavich said the purchase of ActewAGL’s stake would allow the company to provide its own ISP customers with a range of new Grapevine services and updated products in the second half of 2010.

“This exciting purchase decision also allows TransACT to better position itself within a broader National Broadband Network (NBN) environment by fully owning its ISP,” Slavich said in a statement.

In April the telco and pay TV provider said it will serve fibre broadband to 11,000 ACT residents after the completion of fibre-to-the-premise (FTTP) deployments to two greenfield estates.

In February TransACT opened a new 1000 square meter data centre launched by ACT Chief Minister Jon Stanhope.

The new facility took the total number of TransACT's to three, with the first opened in 2001.

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