Business ISP Timico UK Acquires Rival Internet Provider Powernet
Posted: 03rd Jun, 2011 By: MarkJ
Business internet provider Timico UK has gobbled up Power Internet Limited (Powernet), an independent Milton Keynes based rival, for an undisclosed sum. Powernet is understood to have Network Operations Centres in Milton Keynes, London, Manchester and employs 30 staff across these locations.Chairman of the Timico Technology Group, Tim Radford, said:
"The acquisition of Powernet is a perfect opportunity for Timico. It gives us further scale to meet the growing need for fully managed IT and communications solutions, whether they be Private Wide Area Networks or hosted data centre solutions. With its impressive focus on research and development and its investment in a similar infrastructure to our own, we share the same kind of commitment to providing our customers with leading edge technology solutions and fantastic service."
"The acquisition of Powernet is a perfect opportunity for Timico. It gives us further scale to meet the growing need for fully managed IT and communications solutions, whether they be Private Wide Area Networks or hosted data centre solutions. With its impressive focus on research and development and its investment in a similar infrastructure to our own, we share the same kind of commitment to providing our customers with leading edge technology solutions and fantastic service."
Powernet’s CEO, Tony Tugulu, added:
"By becoming part of the Timico Group we are going to be in good company with like-minded industry experts who share a similar end goal. The synergies that will undoubtedly exist between us, will mean we are able to offer even better solutions and service to our customers, particularly in the managed networking and hosting space. As a team, we are looking forward to making a strategic contribution to the Group."
"By becoming part of the Timico Group we are going to be in good company with like-minded industry experts who share a similar end goal. The synergies that will undoubtedly exist between us, will mean we are able to offer even better solutions and service to our customers, particularly in the managed networking and hosting space. As a team, we are looking forward to making a strategic contribution to the Group."
At this stage it's unclear how Timico will manage their latest purchase, with customers needing to know whether or not their services and or pricing are going to change.
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