Feeds

Insight exits PlusNet, raises £15.8m

PlusNet snuggles up to BT

  • alert
  • submit to reddit

Beginner's guide to SSL certificates

Insight Direct, the UK arm of US reseller giant Insight Enterprises, has raised around £15.8m by selling its remaining 45 per cent stake in Sheffield-based ISP PlusNet through a share placong.

PlusNet also announced that it has added an extra 9,000 new broadband users since the end of September, taking its total ADSL customer base to more than 86,500. This continued growth means that trading is "expected to be ahead of market expectations" for Q4, said the company in a stock exchange statement, a move welcomed by the market which has seen shares leap 16 per cent today to 154p.

Confirmation that Insight had flogged its stake in the ISP came as PlusNet announced it was snuggling up to BT Retail to "work together and share technical knowledge on the development and marketing of each other's proposed new broadband products and services including fixed access, wireless access, mobile services and Voice over IP (VoIP)".

As a result of the memorandum of understanding, PlusNet could get an early look-in to test new products and services giving it a head-start among rivals.

Said PlusNet chief exec Lee Strafford: "Closely aligning PlusNet with BT Retail will help PlusNet to remain at the forefront of developments in the Broadband market in the UK. This is a strong endorsement of PlusNet's technical expertise and evidence that PlusNet is an integral part of BT Retail's strategy going forward.

"I expect the strategic relationship with BT Retail to bring new future product and service opportunities to PlusNet as well as valuable insight into infrastructure developments." ®

Related stories

PlusNet moves broadband hogs onto 'bad boy pipe'
PlusNet gets tough with broadband hogs
PlusNet sponsors Sheffield Wednesday
PlusNet joins AIM

Secure remote control for conventional and virtual desktops

Whitepapers

Cloud and hybrid-cloud data protection for VMware
Learn how quick and easy it is to configure backups and perform restores for VMware environments.
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.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Three 1TB solid state scorchers up for grabs
Big SSDs can be expensive but think big and think free because you could be the lucky winner of one of three 1TB Samsung SSD 840 EVO drives that we’re giving away worth over £300 apiece.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.