Feeds

Insight exits PlusNet, raises £15.8m

PlusNet snuggles up to BT

  • alert
  • submit to reddit

Secure remote control for conventional and virtual desktops

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

More from The Register

next story
YOU are the threat: True confessions of real-life sysadmins
Who will save the systems from the men and women who save the systems from you?
Download alert: Nearly ALL top 100 Android, iOS paid apps hacked
Attack of the Clones? Yeah, but much, much scarier – report
Broadband sellers in the UK are UP TO no good, says Which?
Speedy network claims only apply to 10% of customers
Virgin Media struck dumb by NATIONWIDE packet loss balls-up
Turning it off and on again fixes glitch 12 HOURS LATER
Ofcom snatches 700MHz off digital telly, hands it to mobile data providers
Hungry mobe'n'slab-waving Blighty swallows spectrum
Fujitsu CTO: We'll be 3D-printing tech execs in 15 years
Fleshy techie disses network neutrality, helmet-less motorcyclists
Facebook, working on Facebook at Work, works on Facebook. At Work
You don't want your cat or drunk pics at the office
Soz, web devs: Google snatches its Wallet off the table
Killing off web service in 3 months... but app-happy bonkers are fine
prev story

Whitepapers

Choosing cloud Backup services
Demystify how you can address your data protection needs in your small- to medium-sized business and select the best online backup service to meet your needs.
Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
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.
The hidden costs of self-signed SSL certificates
Exploring the true TCO for self-signed SSL certificates, including a side-by-side comparison of a self-signed architecture versus working with a third-party SSL vendor.
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.