Centrica buys iomart broadband ops
Printiomart out of telco biz
Posted in Telecoms, 9th January 2002 09:46 GMT
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Scottish ISP iomart has sold its broadband business to Centrica for £2 million.
The company's support centre in Stornoway, 40 staff and 2,750 customers will be transferred to Centrica as part of the deal.
In return Centrica - which trades under the brands of the AA, British Gas/Scottish Gas, Goldfish and One.Tel - picks up a business with estimated revenues of £1.9 million last year against losses of £1.6 million.
iomart is expected to use the cash to accelerate development and marketing of its NetIntelligence security product.
No-one from the company was available for comment by press time but in a statement iomart CEO Angus MacSween said; "This completes the withdrawal of iomart from telco and infrastructure related products and facilitates focus on the new strategy concentrating on the NetIntelligence suite of products."
In May iomart flogged its customer-facing dial-up ISP Madasafish to an unnamed buyer. ®
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