Optus today announced it has taken 100 per cent control of its joint venture with US-based Excite@Home. Optus has purchased all shares in Excite@Home Australia and now controls the company outright.
As part of the agreement, Excite@Home will provide core broadband technologies and brand licensing to Optus on new terms to reflect the restructured relationship.
In a seamless transition for customers, Optus will continue to provide the high-speed cable internet service Optus@Home. Optus will also assume control of content aggregation for OptusNet subscribers and the Excite.com.au open portal.
Optus Chief Executive Chris Anderson, said the deal secures the future of Optus's industry-acclaimed internet services.
"We are pleased that our negotiations with Excite@Home have concluded successfully. This is a win for both our companies and for customers," Mr Anderson said.
Patti Hart, Excite@Home's Chairman and CEO, said the agreement helped the company to streamline its business and focus on broadband.
"This is the latest example of how we see other relationships with cable operators could be structured, ultimately making Excite@Home a provider of multiple services for last-mile owners," she said.
Mr Anderson said the new arrangements would have no impact on the delivery of Optus@Home, OptusNet or Excite.com.au services.
Optus will now begin to integrate the Excite@Home Australia business into Optus Consumer & Multimedia to drive cost efficiencies.
For more information contact:
Optus Public Affairs
Tel: (02) 9342 5030