First Telecom Group plc ("First Telecom"), the European telecommunications operator, has acquired Cerbernet Limited, a London based Internet Service Provider that offers connection and server hosting services for the small and medium businesses ("SME's") market. Financial details of the transaction are not disclosed.
This acquisition strengthens First Telecom's position within the European telecommunications market. This acquisition follows on from the acquisition by First Telecom earlier this month of Interactive Network, a German based ISP Company. Both these acquisitions are part of an acquisition strategy financed through private equity financing of £40 million from Providence Equity Partners and Morgan Stanley Capital Partners in October 1999.
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