Provider of business communication solutions to SMEs Via Net.Works has entered into definitive agreements for the sale of all the company's operations to Interoute, an European voice and data network provider, for a purchase price of USD 18.1 million in cash. Under the agreements concluded on 26 August, Interoute will also provide a bridge loan facility to the company of up to USD 7.2 million through the close of the transaction. Interoute will acquire the company's PSINet Europe operations in Germany, France, Belgium, Switzerland and The Netherlands, and its Via Net.Works operations in Spain, France and Germany. The sale will include certain assets and liabilities pertaining to VIA's centralised back-office financial, network management and technical support systems held by the group parent Via Net.Works. VIA will remain responsible for its corporate headquarters staff, other than those employees offered employment by Interoute, and all liabilities and expenses of the group parent. The sale is subject to approval by VIA's shareholders. Earlier this year Via Net.Works sold its Via Net.Works operations in the Netherlands, US and Portugal plus its hosting service provider Amen to Claranet. Claranet was also going to acquire the remaining operations, but withdrew from the transaction after reaching settlement of USD 800,000.
