ISP HighwayOne calls in administrators
Up for sale
UK ISP HighwayOne has called in the administrators and it's up for sale.
Joint administrator William Tacon from Ernst & Young said: "HighwayOne's difficulties have been caused by the need for heavy and continuing capital expenditure while the business has been established.
"This is a high technology infrastructure business with a quality client base and a niche in the market. We are advertising the business for sale and we expect there to be a high level of interest.
"It's nothing like a dotcom and the changed attitudes to this kind of business in recent months are not the problem in this case".
Its German owners, who pulled a planned stock exchange listing in Germany last year, funded HighwayOne's expansion.
The company is based in Warwick and has 130 employees. The administrator's statement said it had recorded annual sales of £6 million. ®