Feeds

Liberty Surf takes X-Stream measures

UK ISP valued at £48m

  • alert
  • submit to reddit

The essential guide to IT transformation

European subscription-free ISP, Liberty Surf, is to merge with The X-Stream Network in a deal that values the British outfit at £47.69 million ($75.35 million). Under the agreement Liberty Surf will acquire all of the outstanding shares of X-Stream common stock. Once the deal is finalised X-Stream will become a wholly owned subsidiary of Liberty Surf. X-Stream shareholders (other than Liberty Surf, which currently owns around ten per cent of X-Stream) will receive £0.80p ($1.26) for each X-Stream share, representing an aggregate cash consideration of £43.28 ($68.35) million. No one at X-Stream was prepared to comment further on how this would impact on the business since Liberty Surf is currently engaged in an IPO. Liberty Surf is looking to raise some £307 million in and it's believed that the cash will help fund expansion overseas. Elsewhere, France Telecom said it was looking at the possibility of floating its ISP, Wanadoo, the country's number one service provider. ®

5 things you didn’t know about cloud backup

More from The Register

next story
6 Obvious Reasons Why Facebook Will Ban This Article (Thank God)
Clampdown on clickbait ... and El Reg is OK with this
No, thank you. I will not code for the Caliphate
Some assignments, even the Bongster decline must
Barnes & Noble: Swallow a Samsung Nook tablet, please ... pretty please
Novelslab finally on sale with ($199 - $20) price tag
Mozilla's 'Tiles' ads debut in new Firefox nightlies
You can try turning them off and on again
Banking apps: Handy, can grab all your money... and RIDDLED with coding flaws
Yep, that one place you'd hoped you wouldn't find 'em
Video of US journalist 'beheading' pulled from social media
Yanked footage featured British-accented attacker and US journo James Foley
Primetime precrime? Minority Report TV series 'being developed'
I have to know. I have to find out what happened to my life
Netflix swallows yet another bitter pill, inks peering deal with TWC
Net neutrality crusader once again pays up for priority access
prev story

Whitepapers

Top 10 endpoint backup mistakes
Avoid the ten endpoint backup mistakes to ensure that your critical corporate data is protected and end user productivity is improved.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Backing up distributed data
Eliminating the redundant use of bandwidth and storage capacity and application consolidation in the modern data center.
The essential guide to IT transformation
ServiceNow discusses three IT transformations that can help CIOs automate IT services to transform IT and the enterprise
Next gen security for virtualised datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.