September 29, 2004 — (WEB HOST INDUSTRY REVIEW) — Web hosting and network operator VIA NET.WORKS Inc. (vianetworks.com) announced on Tuesday that it had sold its UK-based Internet service operations to UK ISP Claranet (claranet.com) for 7.3 million Pounds Sterling.
VIA says it received 5.3 million pounds in cash at the close of the sale, according to the terms of the agreement. Two million pounds are being held in escrow, half of it to be paid in six months and half to be paid after one year.
In the interest of a smooth transition, Claranet will have the right to use the VIA NET.WORKS UK brand for a limited period of time following the sale. Claranet says the VIA UK customers it acquired will continue to see the same quality of service, and will have access to a new range of Claranet services.
