Thus group sells off Dutch Demon

Thus, the company behind the Demon brand, has agreed to sell its Dutch arm to telco Royal KPN NV for £47m. The deal is now before the Works Councils of both firms for rubber-stamping.

The Demon ISP has 77,000 subscribers in the Nertherlands and brought in £19.8m over the past year with EBITDA (earnings before interest, tax, depreciation and amortisation) of £2.2m. The operation's assets are valued at £5.3m.

Thus announced plans to concentrate on its domestic operations in a strategy review in February. The group is aiming to focus on the UK business market.

It will post its annual results on 19 June. ®