General Cable, the UK?s fourth largest cable company, has acquired Imminus, the country?s biggest independent managed data network company.
The #33 million acquisition will help strengthen General Cable?s business user operation, now named General Telecommunications, by taking it into the lucrative switched data services market. Imminus is active in the travel market, offering leased private networks based on X.25 and frame relay. It plans to add ATM facilities in the future.
The acquisition was announced as General Cable - now headed up by former IBM UK general manager Tony Cleaver - posted pre-tax losses of #29.8 million, 40 per cent deeper than last year. Revenues increased by 45 per cent to #91.1 million.
General Cable boasts 168,000 residential telephone lines, an increase of 32 per cent on last year, and also saw a rise of 62 per cent in its business exchange lines, which now number 32,000. It has 154,000 cable television customers.
Imminus was established in 1993 following the management buy-out from Midland Bank of Midland Network Services. Its switched network has more than 150 nodes and points of presence across the country, particularly centred in major airports and business centres.
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