Original URL: https://www.theregister.com/2003/07/21/gx_buys_cix_xtml_ltd/
GX buys CIX, XTML LTD
Merger of the acronyms
Posted in On-Prem, 21st July 2003 16:54 GMT
GX Networks has bought two telecoms operations from Telenor for £1m in new shares.
They are Compulink Information eXchange Ltd, better known as CIX, now an ISP and once the nearest thing the UK ever got to The Well; and XTML Ltd, a business to business web hosting outfit.
The businesses are loss-making and had collective revenues of £11m in 2002. Net assets are £1m.
In a statement, GX Networks said the acquisitions took the company "one step further in establishing critical mass, increasing revenues and customers, whilst providing a faster route to profitability”. ®