On 29 March 2010, an agreement was entered into in which Netspace would be acquired by another ISP, iiNet, for $40 million.
The company focuses primarily on ADSL-based Internet access. Netspace started in the early 1990s offering dial-up internet access, as was the standard at the time. The company was headquartered in Camberwell, a suburb of Melbourne, Victoria.
Netspace used to sell ADSL and dial-up connections for home, SOHO and business customers. ADSL DSLAM ports are purchased through a wholesale agreement with Telstra and ADSL2+ ports are purchased through wholesale agreements with Optus and PowerTel. Netspace have released their own DSLAMS in some locations and have indicated they are also trialing Naked services on these DSLAMS. They also offer VOIP, resold phone services (Encircle), web, mail & DNS hosting, co-location hosting and they provide content filtering for Victorian public schools.