action through the ACCC to require the peering arrangement to be passed on. The ACCC declined to take action in the case. Connect.com.au was unable to get the message through to the ISP community that Connect.com.au had operated at a substantial loss since it was founded, and was struggling to maintain investor support. The financial settlement and the revised traffic pricing regime enabled Connect.com.au to secure ongoing support from its investors enabling the company to play a key role in assuring the future competitiveness of Australia's wholesale and business internet market and the ongoing financial health of ISP community. Acquisition In 1995 Connect was sold to three major investors: National Australia Bank, Sirius Technologies and AAPT. AAPT executive John Stuckey was appointed Chief Executive Officer in December 1996. In 1999 AAPT acquired the remaining two thirds of Connect, making it a wholly owned subsidiary. Their aim was to consolidate existing business internet services with those provided by Connect and take advantage of the technically proficient technical team when launching their Smartchat brand. In 2000 AAPT was bought by Telecom New Zealand. Founders Following the sale of Connect in 1995, Hugh Irvine started an ICT and software development consultancy called Open Systems Consultants. This company specialises in the development and support of software for ISPs and Telecommunications providers, such as user administration and authentication software. Chris Chaundy remained with Connect until the early 2000s, following which he joined Comindico. In 1999 both Irvine and Chaundy were inducted into the Australian Internet Awards' Hall of Fame. References External links Corporate site ASIC listing Companies based in Melbourne Internet service providers of Australia Telecommunications companies established in 1991 1991 establishments in Australia