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Easynet buys ex-Energis German ops

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Easynet Group Plc - the pan-European business broadband provider - has agreed to buy the majority of the web-hosting assets of Ision Internet AG, (Energis' former German outfit) from administrators for Euro3.4m (£2.2 million).

The deal is subject to agreement by the courts and the creditor's committee, both of which are expected within the next ten days.

If it gets the thumbs up then Easynet will acquire the fully-equipped data centres and assets of Ision pluss some 100 staff.

Ision provides hosting services for more than 190 corporate customers, including publishing outfit Der Spiegel and ecommerce operation Tchibo.

Easynet reckons customer base will generate revenues of Euro15m (£9.4m).

Said Easynet chief executive, David Rowe: "This deal represents good value for our shareholders and accelerates the Company's move to cash flow positive in Germany."

Shares in Easynet dipped 1p (1.18 per cent) to 85p by mid morning. ®

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