C&W buys INS

So that explains the Networks Telecom no-show

"As a private company INS is wholly accountable to itself and its customers." But not for much longer. Internet Network Services, the venture capital-backed ISP, has sold itself to Cable & Wireless. Terms were undisclosed... although the Evening Standard reckons the deal was struck at "between £50 million and £100 million". In other words, it doesn't know. Presumably, INS investors (which include Barings Communications Equity and Spectrum Equity Partners) made a pretty penny. Or two. Rumours of INS' impending sale were flying around Networks Telecom last week, sparked by the ISP's no show at an awards dinner. Only it was NTL, the megalomaniac cable company that was supposed to be doing the buying. Through INS, C&W gains net liabilities of £8 million, and 1,500 business customers. INS claims it is the UK's third biggest and fastest growing ISP. It also operates an education-specific ISP, called Edex. ®

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