(WEB HOST INDUSTRY REVIEW) — Wholesale network carrier business Tiscali International Network (www.tinet.net), formerly the carrier arm of Tiscali Group, reported on Tuesday that it had completed its sale to Italian private equity firm BS Private Equity SpA.
Tiscali said the property would be re-branded as Tinet. No financial details of the acquisition were offered in the announcement, though reports have placed the value at approximately $65 million.
Tinet, described in the announcement as “the only global carrier exclusively committed to the IP/MPLS wholesale market,” is a provider of IP transit and Ethernet connectivity to carriers, service providers and content companies around the world. It has network presence and customers worldwide.
According to the report, BS Private Equity is committed to Tinet’s business model, and will continue to support its strategy of growth in the IP and Ethernet markets, including the continuation of a project to deploy a third network operations center in the United States.
“With the backing of a major private equity firm, we are in a strong position to consolidate our growth in the market,” stays Paolo Susnik, CEO of Tinet, quoted in the press release. “As a result, we are well placed to continue to provide our customers with the quality of service that they have come to expect from us.”
The announcement says BS Private Equity invests in companies with strong management and proven, sustainable business models – both traits the company believes Tinet exhibits. BS Private Equity partner Paolo Pendenza says in the release he is confident his company’s involvement will “help lead Tinet to even greater success.”
About Liam Eagle
Liam Eagle has worked as a contributor to the Web Host Industry Review since its inception in 2000, and as editor since 2003. He has been editor of the WHIR's print magazine since its launch. His daily involvement in the gathering and reporting of Web hosting news and his regular interaction with Web hosting leaders gives him an uncommonly broad appreciation of the issues and tends facing the business. Through his WHIR blog, Liam spots Web hosting trends and offers opinions on the industry-wide impacts of major developments and the motivation behind big announcements. Follow him on Twitter @liameagle
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