186k buying another company
PrintReceives financial backing too
Posted in Telecoms, 4th November 2005 15:26 GMT
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186k - the Leeds-based ISP headed by Internet entrepreneur Dominic Marrocco - has received a stack of cash to help it buy up more companies.
As part of the deal Bank of Scotland Corporate effectively becomes a "sleeping partner" in the business until such times as "certain conditions" are met and BoS decides to invest further.
Exactly how much BoS has stumped up remains a closely guarded secret although 186k has disclosed that the "multi-million pound partnership" [there's a clue there, surely? Ed.] will help fund the company's ambition for further "consolidation and convergence in the ISP sector".
In September, 186k acquired London-based provider Mailbox Internet for around a couple of a million quid. And over the last year or so it has snapped up Northern-based Elite Internet Services and acquired a major stake in Middlesborough-based Onyx Internet.
What's more, it seems the acquisitive ISP could be about to net another purchase within the next couple of weeks.
"186k is currently in the process of closing another deal, which will further boost the capabilities of the company," it said in a statement today.®
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