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Iomart Buys 51% Stake in UK ISP EzeeDSL

Sam_the_Hobbit

Casual Member
:D :D :D

http://www.ispreview.co.uk/cgi-bin/news/viewnews.cgi?id=EEZFkZFykFEHxfRIBA


News - March 7, 2007

Iomart Buys 51% Stake in UK ISP EzeeDSL
By: MarkJ @ 1:20 PM - [Submit News | Link | Comments]
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The London Stock Exchange (LSE) reports that the Iomart Group PLC has acquired a 51% controlling interest in the “data centre company” Ezee DSL Limited (186k). There's more..:

Highlights

* iomart enters the data centre market with a conditional agreement to acquire a 51 per cent stake in Ezee DSL Limited (to be renamed Easyspace Datacentres Ltd) for £4.8 million in cash.

* KBC Peel Hunt has conditionally placed 20,000,000 Placing Shares to raise £11 million at a price of 55 pence per share

* The Directors believe that they are acquiring their 51 per cent. stake at a significant discount to the replacement cost of iomart’s share of the equipment, which the Directors estimate to be £14m

* The Directors are confident that the delivery of the Easyspace Datacentres’ business plan will result in iomart achieving entry into a profitable and growing business at a relatively low earnings multiple.


* EGM to approve, inter alia, the Investment Agreement, to be held at the offices of iomart Group plc on 30 March 2007 at 10:00am.

Angus MacSween, Chief Executive Officer said:

"The Directors believe that the acquisition of a significant amount of high quality data centre capacity which is close to being operational would, at this point in the cycle, be highly opportunistic. Existing data centres are believed to be close to capacity and new data centres are time-consuming to build and fit out. Independent research suggests that occupancy rates for carrier neutral data centres will be close to capacity by the end of 2007 and that prices for rack space will nearly double from 2006 prices over the next three years.

We look forward to working with Dominic Marrocco (owner of Ezee DSL Limited) who has a proven track record in the data centres market and believe his skills, experience and enthusiasm will be highly beneficial to the group”.
 

silvester

Regular Member
skills, experience and enthusiasm...

Oh really?

If my experience and that of many others blackmailed into signing up to the scam that is Ezeedsl is anything to go by, "dishonest, incompetent and shameless" would be more accurate.

Lets face it....I doubt anyone CHOSE Ezeedsl; their entire customer base comprises victims blackmailed into signing up faced with the alternative prospect of no broadband for weeks or even months. Ezeedsl is a parasitic operation sponging of the failure of other businesses and shamelessly treating their paying customers with contempt.

These shamelss ******** are still sending me invoices. I'll see them in court if they like.
 
Last edited by a moderator:

Wingcommander

Casual Member
I think you are being just a little bit unfair, silvester.

"skills, experience and enthusiasm..." You have omitted to point out that they also get Agent Smith :cool: for their £4.8 million - cash, with all of his - errrmmm - experience?
 

jockdownsouth

Pro Member
I have a horrible feeling we're going to end up as neglected orphans again. The News Releases state that Iomart is purchasing a stake in EzeeDSL Ltd, (to be renamed Easyspace Datacentres Ltd). It is not purchasing a stake in 186k Ltd, and the emphasis is on Server Hotels, not ISP services.

It specifically says " Iomart and 186k, the current owner of Ezee DSL, will contribute to Easyspace Datacentres’ capital expenditure and working capital requirements in proportion to their shareholding in Easyspace Datacentres."

It also says "186k itself is primarily an internet service provider, having consolidated a number of smaller broadband providers, trading under the names 186k, Elite Internet Services, Mailbox Internet and EFH Broadband, with a customer base in excess of 14,000 broadband customers".

Now that to me means that EzeeDSL Broadband Customers (ie us) will either be an unwanted and neglected part of the acquisition or as part of the deal we'll be transferred to EFH.
 

ANdyoz

Top Member
Just run the hell away now guys.

All these companies ever seem to do is merge with each other so the knobs that own them can boost their fragile egos. They have no interest in running competent hi-tech companies, they just want to be able to boast to their other businessman buddies that they are dabbling in the IT Sector.

I don't know what it is about the IT sector that attracts these types, but it seems to go with the lower end of the market.
 

jockdownsouth

Pro Member
According to Clive Smith on the 186k Official Forum the EzeeDSL brand will remain part of the 186k Ltd broadband offering. so this Iomart deal won't have any affect on EzeedSL broadband customers. Not sure whether to be pleased or sad.
 

ANdyoz

Top Member
?????

Didn't BISCIT say that about V21 customers....they all say that to keep the punters happy.
 

silvester

Regular Member
Well...I'm now with Eclipse and so far, so good! I have deleted every reference to the Ezeedsl scam from my PC (browser favourites, e-mail addresses etc) though I have kept copies of correspondance in case they're want to draw their own breach of contract to a court's attention. I have also added Ezzedsl to my spam filter so anything from them is treated in the most appropriate way...as rubbish.

Gid riddance to a lousy and fraudulent set up.

I would recommend anyone who didn't get the service they signed up to (and alerted Ezeedsl to this in good time) to cite breach of contract, demand your MAC and go to a proper ISP rather than putting up with this shower of ****.
 
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