Feeds

Banks seal Energis takeover

Norman conquest

  • alert
  • submit to reddit

Beginner's guide to SSL certificates

A consortium of banks has bought ailing alternative telco, Energis, it was confirmed today.

Chelys - a company chaired by Tory MP and one-time ASDA boss, Archie Norman - has bought the UK business of Energis plc after it ramped up debts of £690m.

As widely reported in the press over the weekend, Chelys will pump £150m of cash into Energis to finance the development of the business.

The new owners claim that Energis' UK business is sound. In the last three months Energis won new sales orders valued at more than £41 million, including contracts with Virgin Mobile and Eurostar.

Chelys will trade under the Energis name.

Said Archie Norman in a statement: "This is a business with very strong customer support and committed employees.

"When approached I said I would be keen to help but only if there was financial security for the business and the prospect of building a great team.

"Chelys delivers both and provides an opportunity to rebuild a strong business for the customers, employees and investors."

Related Story

Archie Norman lined up for Energis as banks take over

Providing a secure and efficient Helpdesk

More from The Register

next story
Facebook pays INFINITELY MORE UK corp tax than in 2012
Thanks for the £3k, Zuck. Doh! you're IN CREDIT. Guess not
DOUBLE BONK: Testy fanbois catch Apple Pay picking pockets
Users wail as tapcash transactions are duplicated
Happiness economics is bollocks. Oh, UK.gov just adopted it? Er ...
Opportunity doesn't knock; it costs us instead
Google Glassholes are UNDATEABLE – HP exec
You need an emotional connection, says touchy-feely MD... We can do that
YARR! Pirates walk the plank: DMCA magnets sink in Google results
Spaffing copyrighted stuff over the web? No search ranking for you
In the next four weeks, 100 people will decide the future of the web
While America tucks into Thanksgiving turkey, the world will be taking over the net
prev story

Whitepapers

Why cloud backup?
Combining the latest advancements in disk-based backup with secure, integrated, cloud technologies offer organizations fast and assured recovery of their critical enterprise data.
A strategic approach to identity relationship management
ForgeRock commissioned Forrester to evaluate companies’ IAM practices and requirements when it comes to customer-facing scenarios versus employee-facing ones.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
New hybrid storage solutions
Tackling data challenges through emerging hybrid storage solutions that enable optimum database performance whilst managing costs and increasingly large data stores.