WIRES:

ihug acquires Waikato ISP, Wave

Friday, 21 May 2004, 2:29 pm
Press Release: Ihug

ihug, New Zealand’s original internet pioneer, today announced that it has acquired Waikato ISP Wave Internet Services from Texas-based Pavilion Technologies Inc. (PavTech) for an undisclosed sum.

Wave has just under 10,000 customers, mainly in Waikato and Bay of Plenty, which, when added to ihug’s current base will mean a customer base of 120,000 subscribers to broadband, dial-up and telephony products in New Zealand.

The acquisition also includes Wave subsidiary, PC Connect.

“Wave fits well with ihug’s growth strategy of acquiring successful New Zealand ISP businesses with a strong regional presence,” says Michael Malone, Managing Director, ihug Limited. “The business will continue to operate under the Wave Internet brand and will remain a strong player in the central North Island.”

All dialup and toll free support numbers remain in place and Wave customers will retain their existing @wave.co.nz email addresses.

For Wave Internet it is a return to Australasian ownership, as ihug is listed on the Australian and New Zealand stock exchange through its parent iiNet Ltd (NZSX: IIN).

“Wave will continue to operate as a separate business, ” says PavTech Limited Managing Director David Southall. “The acquisition by ihug will provide Wave with the ability to role out further products and services including low-cost voice and toll services.”

ENDS

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