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THUS Puts UK ISP 'Demon Internet' Up For Sale

Posted: 24th Oct, 2006 By: MarkJ
The Telegraph newspaper has reported that Demon Internet's domestic business is being offered up for sale by owner THUS Group. The ISP is estimated to be valued at £15m to £20m:

Thus is believed to have received a recent approach for Demon's home internet access business, which has around 50,000 UK broadband subscribers.

It has since sent out an information memorandum with financial details of the business to potential buyers to see if it can attract a satisfactory offer. Obvious possible candidates include Carphone Warehouse and BT. It is understood that Thus would aim to keep hold of Demon's small and medium sized business customer base.

Despite strong broadband growth, the combined Demon businesses suffered a 5pc fall in turnover last year to £69.3m and a 15pc fall in profit to £27.7m as it moved many of its dial-up customers to flat-rate broadband packages.

The past couple of years have seen an aggressive amount of consolidation, with many ISP's merging to form larger providers. Clearly this period is not yet over, although precisely who will buy Demon remains unclear.
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