Affinity buys breathe for £1.75m
Pass the parcel ISP finds new home
Modern urbanist ISP breathe has been bought for the second time in six months in a paper deal worth £1.75 million.
Affinity Internet Holdings announced this morning that it had bought the ISP from Great Universal Stores (GUS), the outfit behind catalogue retailer Argos.
GUS will retain the multi-device access technology developed by breathe. Affinity gets the ISP (which includes 50,000 customers) and the portal business for its money.
GUS acquired breathe in January for £1.4 million after the cash-strapped ISP called in the administrators but confirmed it was up for sale again in April.
Around 60 people have lost their jobs as part of today's acquisition. Affinity will retain around 10 breathe staff.
Breathe lost £1.7 million in the three months to March 31 according to un-audited management
Affinity intends to maintain the breathe brand - so microscooter-riding modern urbanists can text their friends and heave a collective sign of relief. ®