July 18, 2007 – (HOSTSEARCH.COM) – British web hosting provider Pipex Communications PLC (http://www.pipexgroup.com/) has sold its Voice and Broadband Division, it was reported recently. The division was sold to Tiscali for around 210 million pounds and according to the company, the move comes in a bid to focus on its web hosting, business services and wireless activity. The deal is conditional on shareholder approval and competition clearance.
“The group is also reviewing options for the efficient distribution to shareholders of the proceeds from the sale of the Broadband and Voice division. Further updates will be provided in due course,” a Pipex spokesperson was reported as announcing.
The Pipex Broadband and Voice division is one of the leading providers of telecommunications and Internet services in the United Kingdom with revenues of 231.7 million pounds and pre-tax profit of 13.9 million pounds in 2006.
Pipex’s hosting activity has had an annual growth of around 24% and has achieved 90% customer growth in the area of virtualized hosting solutions and virtual private servers. As a result, Pipex Hosting is one of Europe’s two largest hosting providers. Pipex’s domain name activity has also experienced growth, increasing 25% over last year. The company now manages 2 million domains.
