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21/10/2005
BSkyB agrees to buy Easynet
BSkyB has scooped up Internet Service Providor Easynet in a deal worth £211 million.
The purchase is part of an acquisition drive following a £1 billion bond issue by BSkyB earlier this year and gives the satellite broadcaster a firm grounding in the UK telecoms industry.
BSkyB said that the acquisition of Easynet would provide an established presence in UK broadband, a leading position in Local Loop Unbundling in the UK with 232 local exchanges unbundled, managerial and technical expertise to expand this local infrastructure through the unbundling of additional exchanges.
The deal gives BSKB ownership of key parts of the national network, giving it control over the quality and availability of services to customers and the ability to offer differentiated and innovative products, such as distibuting content via broadband.
It also throws heavyweight BSkyB against the merging cable companies NTL and Telewest.
BSkyB Chief Executive, James Murdoch, said: "Today's offer reflects the exciting opportunities that now exist to combine quality entertainment with significant high-speed connections. Entertainment is at the core of Sky's success. Easynet's innovative network and technological expertise perfectly complement Sky's strengths in programming and in making technologies easy to use. We see value for families in moving well beyond just another triple play to offer a new level of connected entertainment and communications services."
Commenting on the BSkyB offer, Easynet's Chief Executive, David Rowe, said: "We believe that this offer is in the interests of Easynet's shareholders, customers and employees. This is a great opportunity to accelerate Easynet's local loop footprint, capture market share for next generation broadband services and support new and existing corporate and public sector customers."
The offer remains subject to Easynet shareholder approval.
(SP/KMcA)
The purchase is part of an acquisition drive following a £1 billion bond issue by BSkyB earlier this year and gives the satellite broadcaster a firm grounding in the UK telecoms industry.
BSkyB said that the acquisition of Easynet would provide an established presence in UK broadband, a leading position in Local Loop Unbundling in the UK with 232 local exchanges unbundled, managerial and technical expertise to expand this local infrastructure through the unbundling of additional exchanges.
The deal gives BSKB ownership of key parts of the national network, giving it control over the quality and availability of services to customers and the ability to offer differentiated and innovative products, such as distibuting content via broadband.
It also throws heavyweight BSkyB against the merging cable companies NTL and Telewest.
BSkyB Chief Executive, James Murdoch, said: "Today's offer reflects the exciting opportunities that now exist to combine quality entertainment with significant high-speed connections. Entertainment is at the core of Sky's success. Easynet's innovative network and technological expertise perfectly complement Sky's strengths in programming and in making technologies easy to use. We see value for families in moving well beyond just another triple play to offer a new level of connected entertainment and communications services."
Commenting on the BSkyB offer, Easynet's Chief Executive, David Rowe, said: "We believe that this offer is in the interests of Easynet's shareholders, customers and employees. This is a great opportunity to accelerate Easynet's local loop footprint, capture market share for next generation broadband services and support new and existing corporate and public sector customers."
The offer remains subject to Easynet shareholder approval.
(SP/KMcA)
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