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Broadband Group GX Networks Grows

Posted: 21st Jul, 2003 By: MarkJ
The business broadband group formerly known as Zipcom, GX Networks, has today announced the acquisition of XTML Ltd. and Compulink Information eXchange (CIX) Ltd. for a total of £1m in shares:

XTML provides hosting services to the UK's public and private sectors, including local government and large multi-sited corporates, while CIX offers a range of connectivity packages, spanning ADSL, leased lines, dial-up and conferencing services.

The two companies generated about £11m during 2002, as part of the bigger Telenor group, which did not report a profit. Combined net assets were recently valued at about £1m, equivalent to GX's offer.


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