ISPOne has been sold to Melbourne-based IT and telecommunications provider CONEC2, just weeks after the company entered administration, following two failed court battles against Telstra and the now-defunct Kogan Mobile.
The company's administrator Ferrier Hodgson today announced that all 29 employees and 61,000 customers of ISPOne, including Aldi Mobile customers, will be transferred over to CONEC2, after CONEC2 had settled with ISPOne on an unconfirmed sale price.
The sale will encompass all of ISPOne's assets, including its new iBOSS business, OneSeniors, One Mobile, and One Telecom.
Ferrier Hodgson partner Stewart McCallum said that there had been a number of interested buyers, and this pushed up the sale price of ISPOne.
"Many were credible buyers, and the level of interest drove a competitive bidding process," he said in a statement.
CONEC2 CEO Cameron Adams said that the focus for the immediate future will be integrating ISPOne into CONEC2.
"Our main focus over the coming weeks will be to spend individual time with each staff member and each of the [reseller] customers, as we integrate the teams of both organisations," he said in a statement.
"We believe that the ISPOne team brings an extremely high standard of skills and expertise that we can work with and take to the next level. We are excited to have the opportunity to integrate the iBOSS platform, the people, and valued clients of both companies."
ISPOne ran into financial trouble after reselling Telstra mobile services to Kogan Mobile for just eight months. ISPOne was unable to recoup its costs of providing the services to Kogan Mobile at a lower rate than Telstra was charging, and the end result was tens of millions of dollars owed to both companies.
Kogan Mobile was ultimately unable to renegotiate an agreement to continue to be able to offer services at the same rate, and, as a result, 150,000 customers have begun moving off Kogan Mobile back to other resellers or back to the big three mobile telecommunications providers Telstra, Optus, and Vodafone.