Cybernet Purchases Italy's Flashnet
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Italy's third largest ISP, Flashnet, has announced that it has become part of German company Cybernet, one of the largest international Internet backbone providers in Europe.
The acquisition, consisting of 100 percent of the Italian operation, puts the German-operated company second only to TIN, the ISP of Telecom Italia, and Italy Online, with regards to end-user business in the Mediterranean peninsula.
Established in 1994, an aggressive marketing team and advanced technology made Flashnet one of the fastest growing ISPs in the country. Currently, according to government reports, Flashnet provides service to 40,000 individual Internet users and 2,100 businesses. They also maintain an average of 2,100 new customer applications at any given time.
Another reason for the company's rapid growth is its ability to resolve complex technical problems for high-volume users, as well as the incorporation of collateral services and products into their overall line.
Following this lead, Flashnet, under the new Cybernet direction, plans to continue its drive in the Internet sector as well as enter Italy's cellular telephone business in October, beginning in Milan and Rome.
Unofficial sources say that Cybernet, Germany, paid Lit.50 million (US$27.8 million) for the Italian ISP. Flashnet will soon be entering the Italian stock exchange and has recently added a variety of enhanced features in the consumer and business sectors, which will certainly add to the value of the company.