Viatel Holding Limited, a market leader in the delivery of high-quality, competitively priced communications and information services to businesses and carriers, announced that it has acquired Netcom Internet Limited, a leading business Internet Service Provider (ISP) in the United Kingdom.
According to Stephen Grist, Viatel's Chief Financial Officer, "The Netcom acquisition was very attractive because of the operational efficiencies and cost savings that can be derived from the migration of Netcom's customers onto the Viatel network."
Michael Mahoney, Viatel's Chief Executive Officer stated "The Netcom acquisition dove-tails nicely with our acquisition of Cybernet (Schweiz) AG. "Viatel will continue to evaluate opportunities to acquire high quality recurring revenues through acquisitions, which bring more Internet traffic onto our backbone network. This week we have announced two transactions which management believes will accelerate our business plan objectives."
