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.