Pipex in talks to buy Host Europe
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Posted in Telecoms, 25th March 2004 08:35 GMT
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Pipex is in discussions to buy Host Europe , the rival web host, for £31.2m in cash. They haven't struck a deal yet, but the talks seems to have leaked, which is why Host announced the news in a regulatory statement yesterday.
Pipex Communications was formed in October 2003, when
GX Networks shelled out for Pipex in October 2003. It stumped up £55m in cash and shares for the company and promptly rebranded itself as Pipex Communications. At the time of acquisition Pipex had £20m cash in the bank.
Pipex Communications is a consolidator in the ISP and web-hosting companies, buying several firms in a quick dash. The full list is here in our story about its Pipex takeover. ®
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