1eEurope Continues Acquisition Trail, Buys Netsolv

Wealthy startup
1eEurope this week continued
its acquisition trail — on which it expects to spend a total of
nearly $300 million — by taking over e-business firm
Netsolv.

1eEurope says it will build a pan-European network
by acquiring the most innovative of Europe’s Internet service
providers. Netsolv is a U.K. company whose clients
include BT, Agfa, and AutoDesk.

Late last year, 1eEurope acquired French company
Centre Internet Europeen (CIE),
Danish operator Cypress,
and, just last week, Belgian e-business solution provider
Icon.

Rick Kozak, chief executive officer of 1eEurope, said
that Europe was still lagging behind in e-business,
with only two out of five companies incorporating it
into their strategic planning.

“The business-to-business market holds huge potential
for the Internet. 1eEurope will deliver solutions to suit
the distinctive dynamics of individual markets thereby
helping to make European companies more competitive and
improving their position in the rapidly changing global
marketplace,” said Kozak.

Netsolv founder Dr. Steve Cosby said being part of
the 1eEurope network would help the company increase
its speed, efficiency and flexibility.

“The quality of our partners across Europe will also allow
us to share knowledge and best practice which will benefit
all our clients,” added Cosby.

1eEurope says it has started discussions with several
other companies with a view to acquisition. It is
especially interested in those that offer e-business
services including web design, back office integration
and data warehousing.

1eEurope is expected to target such high-growth vertical
sectors as retail, manufacturing, pharmaceuticals,
finance and publishing.