Tiscali acquires Austrian ISP

European expansion continues

Tiscali has continued its European expansion plans with the acquisition of Austrian-based B-2-B ISP, planetONE, for E2 million (£1.26 million) in cash.

The company said that the transaction was "in line with [its] current consolidating strategy in the B2B market".

planetONE provides a number of business services including leased line access, ADSL, web domains and mail services.

In the last year planetONE recorded a total turnover of around E1.6 million (£1 million) and net profits of around E200,000 (£126,000).

planetONE will be used to bolster Tiscali's presence in Austria following earlier acquisition of ISP such as Nacamar, WorldOnline and SurfEU.

Yesterday Tiscali signed a deal with Reuters to supply multimedia news and financial information across 14 of Tiscali's European Web sites.

Financial details were not disclosed. ®