Doing some more snooping around and checking out the reviews (which look mostly great btw), wanted to also see the highs and the lows, saw this mentioned (ignore the rating. They do have a lot of good ones though):
And then seeing this response, makes it look like Pentanet had access to Red Broadband's accounts history of their customers before coming across to them?
Would be good to know some details of this transaction. Such as how many customers and how much the deal was for?
There's no mention on Business News or media about it. Which is weird, because these guys look like the type that chest beat themselves on every little accomplishment (even if it's the signing of a contract for some rack space in a data centre).
So doing a bit of brief digging with 'Red Broadband', doesnt come up with many good things. So let's focus still on the events around/near this transaction. Some time around 2019, it looked like Red Broadband was in some financial trouble and looks like they got cut off from their main supplier (VOCUS). There's mention of it in this thread on the internet: https://forums.whirlpool.net.au/thread/327w55n9?p=71
Among the discussions of customers talking about choosing to move from Red Broadband to Pentanet, towards the end (last page) there is also a mention of now Pentanet using Red Broadband IP addresses. This is not possible, unless there is some sort of transfer done. When a customer moves from an ISP to another, each internet provider has their own IP addresses.
Smells weird. Especially when it looks like Red Broadband was in financial trouble and likely owed a lot of money to people before wrapping things up. Hopefully the proceeds of the deal went to the creditors. I wonder how much the deal was worth and what they got out of it?
5GG Price at posting:
92.0¢ Sentiment: None Disclosure: Not Held
