July 19, 2002 — (WEB HOST INDUSTRY REVIEW) — British telecommunications firm Easynet Group Plc (Easynet.com) announced on Friday that it has purchased a German Web hosting business, majority-owned by competitor Energis.
According to Easynet, the company paid approximately $3.4 million in cash for the Web hosting assets of Ision. The company went into administration after its parent company encountered financial troubles.
Easynet says it expects the purchase to accelerate the company?s progress toward breaking even in Germany in 2003. The British firm says it generated about a quarter of its 70 million pounds in group revenue last year in continental Europe, but was forced to pull out of start-up businesses in Italy and Switzerland.
