GX Networks buys Firstnet
Fixed wireless deal
Firstnet Services Ltd - the company that acquired fixed wireless broadband outfit Liberty Broadband (aka Tele2 UK) earlier this year - has been bought by GX Networks for £4.3 million.
The deal, finalised last week, means that the telecoms network operator and business broadband ISP can now add wireless broadband to the stable of products it can supply its punters.
It also means that existing Firstnet customers will continue to get their broadband service.
But the acquisition could also result in some of the 100 or so Leeds-based Firstnet workers losing their jobs as the company is folded into the larger group. .
Grahame Purvis, chief exec and chairman, GX Networks, told The Register that it was likely that some jobs would go, although at this stage it was not clear how many would be lost.
He also said that the company might consider expanding the reach of its fixed wireless network at some point in the future, although at this stage the focus is on continuing to drum up demand in areas where the investment has already been made.
The buyout of Firstnet is the fourth acquisition made by GX Networks over the last year.
In July, GX Networks acquired XTML Limited and Compulink Information eXchange Limited, which were previously part of the Telenor Business Holdings UK Limited Group.
In October last year Zipcom acquired Transigent through a reverse takeover before changing its name to GX Networks Plc in March 2003. ®