RealTime IT News

Euro909.com Acquires NetP@rtner

Danish Internet and telecommunications company Euro909.com, formerly known as Telepartner A/S, has acquired London-based IT consultancy NetP@rtner in an all-stock purchase.

Euro909.com Wednesday announced that it will exchange 50,000 shares of Euro909.com common stock and 150,000 warrants for purchase of Euro909.com shares at a future date for the price of US$3 per share.

The employee warrant plan comes into effect only if the company remains profitable at the end of next year.

"We believe that more than ever before, Euro909.com has the means to reach customers beyond our traditional Scandinavian market and into greater Europe," said Aldo Petersen, chief executive officer of Euro909.com. "NetP@rtner's established, UK-based sales and marketing teams will only serve to strengthen Euro909.com's position."

NetP@rtner provides Internet products and solutions to European businesses, together with domain name registration. It carries the range of Net Nanny filtering software products for parental and corporate control of e-mail, PC and Internet usage.

NetP@rtner will continue to be based in the UK, but from July 1 onwards it will be renamed Euro909.com.