|
Pipex have announced to the city that they have acquired rival ISP Nildram for
£12.9m in a cash sale.
Since it acquired GX Networks in October 2002 Pipex have taken over six
companies underlining it's plans for substantial growth within the telecoms
market.
Where this leaves the 35,000 broadband customers of Nildram remains to be
seen as no details have been announced as whether Nildram will continue trading
as a separate company, or come under the large Pipex corporate brand. Of note is
that an estimated 30% of Nildrams customers area those in the business
sector.
Nildram are quite a big catch for Pipex, the reported yearly turnover of
Nildram to March 2004 was £14.1m.
"The acquisition of Nildram further strengthens PIPEX's position as a
leading UK provider of broadband services and takes the total number of
broadband customers to 162,000."
"We continue to focus on our strategy of growth through both organic and
acquisitive means, through opportunities which provide a clear strategic
fit. The success of this strategy is demonstrated by the growth of our total
customer base from approximately 12,000 customers in 2002 to over 350,000
customers today and a significant improvement in gross margin." |
|
Peter Dubens, Chairman of Pipex |
This seems to follow the recent trend of a 'globalization' of
the UK broadband market, with the smaller successful ISP's being snapped up by
the larger players. The press release to the city can be found in
our forums, and a further release from Nildram is promised shortly.
Edit:
It looks as if they will remain as distinct companies, at leat for the moment.
"AccentUK will remain a separate and distinct division within PIPEX under AccentUK's existing MD and Senior Management Team, reporting to Mike Read, (Chief Executive Officer of PIPEX)."
|
