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Pipex Communications Buys Nildram!

Posted: 09th Aug, 2004 By: MarkJ
ISP and website host Pipex Communications has reported its latest half-year trading update and slipped in surprise word about its acquisition of former rival provider Nildram (AccentUK)! The £12.9m deal will add roughly 35,000 new ADSL subscribers to Pipex’s database:

Acquisition of Nildram and Half-Year Trading update

PIPEX Communications plc ("PIPEX"), the telecoms network operator and provider of broadband and hosting solutions, announces the acquisition of AccentUK Limited, which trades as Nildram, one of the UK's leading independent broadband internet service providers. The acquisition will add approx 35,000 new ADSL customers to the existing PIPEX base, taking the total number of broadband customers to 162,000.

PIPEX announces that trading for six months to June 2004 has gone well with particularly encouraging monthly broadband connection numbers. The integration of the Host Europe acquisition is also going according to plan.

PIPEX has acquired Nildram for a total consideration of £12.9 million in cash, funded out of PIPEX’s debt facilities with the Bank of Scotland. Nildram is an Internet Service Provider focusing on providing network application services and related products to businesses and broadband to both business and residential customers in the UK. At the end of July 2004 Nildram had approximately 35,000 broadband customers, of which an estimated 30% are business customers.

Nildram is both profitable and cash generative. During the year ended 31, March 2004 Nildram’s audited turnover was £14.1 million and audited EBITDA was £366,563. The value of Nildram’s net assets as at 31 March 2004 was £323,219. Over the last 12 months Nildram has grown substantially, benefiting from the increasing demand for broadband. Nildram has an 8 year track record as an independent ISP and has built up a loyal customer base.

Half Year Trading update

PIPEX’s broadband division continues to experience good growth and remains the fifth largest supplier of ADSL broadband in the UK. For the first half, the monthly run rate for customer acquisition increased from 5,000 in December 2003, to just under 8,000 in June 2004 and we expect broadband customer acquisition to continue to go well in the second half. Encouragingly, the ARPU per customer has remained constant for the period at approximately £23.00.

PIPEX will launch its first Voice over Internet Protocol (“VoIP”) to SME customers in the fourth quarter of 2004. PIPEX is also exploring avenues to maximize revenue from its wireless division which includes an exclusive 3.6 to 4.2 GHz national wireless license. This license currently delivers broadband to PIPEX customers in places where BT has not equipped the exchanges.


It’s unclear how the move will impact existing customers of Nildram, which has a reputation for being one of the more reliable providers, especially for multiplayer fans.

It’ll be interesting to see if Pipex allows Nildram to retain its well recognised name or simply re-brands it. Credits to ADSLGuide for spotting the news.
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