iiNet buys stake in IT services provider

Internet service provider iiNet has purchased a 60 percent stake in privately-owned technology service provider Tech2 Group to bolster its IT support division.

The transaction provides iiNet access to the Sydney-based Tech2 Group's 650 staff and to the company's operations in field and call centre technology, over the phone tech support, on-site home entertainment set-up, as well as infrastructure build, connection and installation services for the NBN.

iiNet CEO David Buckingham said the partnership would provide iiNet with a new sales channel and set of capabilities.

"[It] will allow us to both extend our brand and provide a more comprehensive service to our customers, particularly through the delivery of the NBN," he said in a statement. 

"Importantly, there is a strong cultural alignment between iiNet and Tech2 Group on the approach to customer service and focus on NPS [net promoter score]."

iiNet has previously signalled its intention to expand into the B2B sector through acquisitions.

Former CEO Michael Malone told iTnews sister site CRN last August that the ISP would turn its focus to the business-to-business space once it finished bedding down its acquisition of Adam Internet.

iiNet has acquired 40 companies since it began operating in 1993.

iiNet declined to comment on the value of the deal. A spokesperson said it was "not material enough for us to disclose".