Thus acquisition of Your Comms gets green light
Hello and goodbye
Thus's acquisition of Your Communications has been approved by shareholders, the Scottish telco confirmed today. As a result of the thumbs up, the acquisition of Your Communications from United Utilities is expected to done and dusted on 26 February.
Three weeks ago, Thus, the Scottish telco behind the Demon ISP, announced plans to buy Your Communications in a deal valuing the business telco at £58.8m. It also confirmed plans to buy ISP Legend for £11.5m.
The acquisition of Your Communications and Legend - which sees Thus expand its position as an alternative carrier for business customers - is set to generate more than £25m in savings, in part thanks to the loss of some 280 jobs from the enlarged group. ®