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Telstra buys PSINet UK

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Telstra Europe Limited - a wholly-owned subsidiary of the giant Australian telco - has bought the UK business of ISP PSINet Europe for £50m.

Up until now, Telstra Europe has been providing voice telecoms services to small and medium-sized business (SMEs). The acquisition of PSINet UK means that the enlarged group will also be able to provide data services as well to meet "growing demand for converged voice and data services".

Said David Thorn, Telstra's MD of Global Business Offshore: "We can now offer our customers truly integrated voice, data and media, delivered in seamless end-to-end solutions that will help organisations to be more effective. In addition, there are excellent opportunities for us to generate new revenues by selling complementary Telstra services to PSINet UK's 3,200 businesses."

No jobs are expected to be lost as part of the deal.

Earlier this month VIA NET.WORKS Inc acquired the mainland Europe operations of PSINet Europe (in Belgium, France, Germany, the Netherlands and Switzerland) for around £12m.

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