CMA clearance marks the completion of Interoute’s acquisition of Easynet
Completion of the acquisition sees Interoute expand its scale and global reach
London, November 04, 2015 – Interoute, owner-operator of one of Europe's largest networks and a global cloud services platform, has announced the completion of its £402 million acquisition of European managed services provider, Easynet. The UK Competition and Markets Authority (CMA) officially cleared the acquisition to go ahead on November 3, completing the final step in the process.
With this acquisition Interoute has almost doubled the size and scale of its enterprise ICT services business (now over 70% of the group’s overall business). On a pro forma basis, after giving effect to the acquisition, Interoute would have had total revenue of over €700 million in the twelve months ended 30 June 2015.
The acquisition will enable enterprise, government and service provider customers of the merged group to access a full suite of the combined companies’ products and services. In addition to increased products and services, the acquisition brings an enhanced and expanded set of skills and capability to serve both companies’ existing customers and new prospects across the world.
In the future the combined group will trade under the Interoute brand. Until this is fully implemented Easynet will continue to operate under its own brand name and will be known as ‘Easynet, an Interoute company’. While the integration plans are in the process of being finalised both businesses are working in tandem and cooperating closely.
Gareth Williams, Interoute's CEO, commented, "The completion of this acquisition is a big step forward as we continue on our path to create Europe’s leading, independent ICT provider. The additional scale, skills and services within the combined business will bring significant benefits to our national and multi-national customers and prospects."
Interoute is the owner-operator of one of Europe's largest networks and a global cloud services platform which encompasses 12 data centres, 14 virtual data centres and 31 colocation centres, with connections to 195 additional third-party data centres across Europe. Its full-service Unified ICT platform serves international enterprises and many of the world’s leading service providers, as well as governments and universities. Interoute’s Unified ICT strategy provides solutions for enterprises seeking connectivity and a scalable, secure advanced platform on which they can build their voice, video, computing and data services, as well as service providers in need of high capacity international data transit and infrastructure. With established operations throughout Europe and USA, Interoute also owns and operates 24 connected city networks within Europe's major business centres. www.interoute.com
Easynet is a leading managed service provider with over twenty years’ experience delivering integrated networks, hosting and unified communications solutions to national, international and global customers. Enhancing these core areas of expertise is a range of complimentary services including colocation, security, voice and application performance management.
Easynet has established relationships with key vendors, government bodies and industry standard accreditors and operates to a number of recognised industry standards, including ISO9001, ISO14001, OHSAS18001, ISO20000 and ISO27001. Easynet is also one of a select number of managed service providers approved and appointed by the Government Procurement Service to assist the UK Government in its mission to create a network of networks.
Easynet’s mission is to deliver integrated solutions that enable an organisation to collaborate more effectively, operate more efficiently and improve customer engagement by connecting people, sites and machines in a secure and reliable way.
Customers include Sports Direct, EDF, Bouygues, Anglian Water, Bridgestone, Levi Strauss and Campofrio Food Group.
This communication contains certain forward-looking statements. A forward-looking statement is any statement that does not relate to historical facts and events, and can be identified by the use of such words and phrases as “according to estimates”, “aims”, “anticipates”, “assumes”, “believes”, “could”, “estimates”, “expects”, “forecasts”, “intends”, “is of the opinion”, “may”, “plans”, “potential”, “predicts”, “projects”, “should”, “to the knowledge of”, “will”, “would” or, in each case their negatives or other similar expressions, which are intended to identify a statement as forward-looking. This applies, in particular, to statements containing information on future financial results, plans, or expectations regarding business and management, future growth or profitability and general economic and regulatory conditions and other matters affecting Interoute.
Forward-looking statements reflect the current views of Interoute’s management (“Management”) on future events, which are based on the assumptions of the Management and involve known and unknown risks, uncertainties and other factors that may cause Interoute’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by these forward-looking statements. The occurrence or non-occurrence of an assumption could cause Interoute’s actual financial condition and results of operations to differ materially from, or fail to meet expectations expressed or implied by, such forward-looking statements.
Interoute’s business is subject to a number of risks and uncertainties that could also cause a forward-looking statement, estimate or prediction to differ materially from those expressed or implied by the forward-looking statements contained in this communication. The information, opinions and forward-looking statements contained in this communication speak only as at its date and are subject to change without notice. Interoute does not undertake any obligation to review, update, confirm or to release publicly any revisions to any forward-looking statements to reflect events that occur or circumstances that arise in relation to the content of this communication.