Clara.net Acquires VIA Net.Works UK
Posted: 28th Sep, 2004 By: MarkJ
ISP Clara.net has completed yet another acquisition by grabbing the UK wing of USA based VIA Net.Works for £7.3m, boosting the providers subscriber base by a further 20,000:
Chief executive Charles Nasser said Claranet had been attracted by VIA's strong cash flow and customer mix.
Further takeovers were likely in the sector, Mr Nasser said, although he stressed that Claranet would be proceeding with caution.
"We have grown this business very carefully over a long period of time and we will continue being cautious. We expect to see more transactions," he said. "We feel there are a few companies which are worth acquiring."
The BBC News Online item reminds us that Clara.net also brought a former rival provider, Netscalibur, last year as well.
Chief executive Charles Nasser said Claranet had been attracted by VIA's strong cash flow and customer mix.
Further takeovers were likely in the sector, Mr Nasser said, although he stressed that Claranet would be proceeding with caution.
"We have grown this business very carefully over a long period of time and we will continue being cautious. We expect to see more transactions," he said. "We feel there are a few companies which are worth acquiring."
The BBC News Online item reminds us that Clara.net also brought a former rival provider, Netscalibur, last year as well.
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