TPG makes $12.8m cloudy acquisition

TPG has made a bid for on-demand specialist IntraPower, which the telco said would help it move into the corporate and government market.

TPG has made a bid for on-demand specialist IntraPower, which the telco said would help it move into the corporate and government market.

IntraPower provides on-demand infrastructure, IT, voice and data communications services. It has offices in Sydney, Melbourne and Brisbane, which service over 2000 customers.

TPG is offering $0.30 cash per share, or $0.15 and 0.089 TPG shares per share. The all-cash offer values IntraPower at $12.8 million.

IntraPower's board of directors have recommended the proposal, and have said that they will accept the offer for the shares they have.

TPG executive chairman David Teoh said that IntraPower would build on the Pipe Networks acquisition with its TrustedCloud product.

"The TPG Group's network and datacentre services, together with IntraPower's proven capability, will enable TPG immediately to meet the emerging demand from customers for the benefits that can be obtained from cloud computing," he said.

The acquisition would also be a way for the telco to save costs through network and datacentre integration, he said.

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