First Telecom Group plc ("First Telecom"), the European telecommunications operator, has acquired Interactive Network, a German ISP provider that offers connectivity and server hosting services, focused on the small and medium businesses ("SME's") market. Financial details of the transaction are not disclosed.
This acquisition is part of First Telecoms strategy to expand its customer base in the German telecoms market as Interactive Network has a strong customer base in Germany. In October 1999, First Telecom raised private equity financing of £40 million from Providence Equity Partners and Morgan Stanley Capital Partners in order to accelerate its broadband data services strategy in Europe through acquisition.
ARC Associates ("ARC"), a specialist investment banking and advisory firm to the TMT, financial services and property sectors, acted as a financial advisor to First Telecom in this transaction.
First Telecom, is one of Europe's fastest growing telecommunications companies with operations in the United Kingdom, Germany and Frances. The company focuses on serving the communication needs for voice and data services of SME's and has combined customer base of over 11,000 SME's and over 290,000 residential customers.
ARC Associates is a specialist investment banking and advisory firm to the telecommunications, media, technology, financial services and property sectors.
Contact:
John Allen, Chairman
ARC Associates
+ 44 (0) 20 7614 4000