The acquisition of NewNet plc, the privately owned, Hampshire-based Internet Service Provider will bolster Timico's own IP services offering, adding further technical expertise and network infrastructure, in addition to a portfolio of well-established business clients, including a number of local government organisations.
"The acquisition of NewNet plc allows us to fulfil our objective of further increasing the size and value of our business by enhancing our range of connectivity and hosting services to address the growing demand amongst business customers for fully-managed network and data centre solutions. With its extensive portfolio of award winning services and its focus on delivering excellent customer support, NewNet clearly shares our commitment to service excellence and will make an exciting addition to the Timico Group” said Tim Radford, Chairman, Timico Group.
Fareham-based NewNet plc whose product portfolio includes bespoke fibre optic networks and LLU services, has a presence in four south coast and five London-based data centres and 11 LLU exchanges. NewNet has seen year-on-year growth since its inception in 1995. The business was started by Executive Chairman and Chief Executive Officer, Peter Coates-Buglear, supported since 2002 by John Mobley, Managing Director.
Commenting on the acquisition, Peter Coates-Buglear said: “Our move into the Timico fold is a good one for both NewNet and our customers and I am delighted that we are set to become part of a like-minded ISP with very similar technical infrastructure, growth ambitions and strategic outlook, and we look forward to combining our respective strengths, particularly in the co-location and hosting environments.”