Ann: Acquisition Presentation, page-7

Very interesting deal. Looks quite compelling.

Lots to like about ST1 and clearly they are executing their growth plan quickly.

Only major downside I see here is potential ACCC interference if someone wanted to buy ST1 and their customer base. So unlikely to see TPG, Vocus or anyone large taking over at some huge premium. Thus its going to be proving up customer base and making profits. Or potentially merger with a smaller rival in future.

Regardless, internet companies growing and un-attached to the NBN are on everyone's mind at the moment. Wouldn't be surprised to see a bit more interest, perhaps from some of the '4 new into investors'.