Tiscali Continues to March Across Europe
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MILAN -- The Internet and telecommunications service provider, Tiscali Spa, announced that an agreement has been reached to purchase the German ISP, surfEU, which also maintains a share of the markets in Austria, Finland, and Switzerland.
This acquisition, according to a company spokesperson, will make Tiscali the third largest ISP in Germany, with nearly 1.8 million customers. The consolidation will also place the Sardinia-based company among the leaders in European net services.
Figures released indicate that Tiscali will pay not less than 69.6 million Euros for surfEU, of which 18.7 million in cash and 50.9 million is Tiscali stock.
The Italian company, lead by founder and CEO Renato Soru, simultaneously reported the closure of a second acquisition, this time Britain's Springboard Internet Services Limited, commercially known as LineOne.
This purchase carries a 100 million Euros price take, and places Tiscali number four in ISPs in the United Kingdom, and number third in Europe. The agreement calls for a cash payment of 20 million Euros and the remainder in Tiscali stock.
Over the past 24 months Tiscali has marched across Europe with a series of mergers and acquisitions, gaining them their current dominating position. In addition to suftEU and LineOne, other companies that have incorporated into the Tiscali conglomerate include Liberty Surf, World on Line, and Excite Italy. The company now has 16 million registered users, with over 9.5 million unique visitors and over 7 million active ISP users.