Private equity investor LDC is to buy networking and hosting business Easynet Global Services from BSkyB for £100 million.

Private equity investor LDC is to buy networking and hosting business Easynet Global Services from BSkyB for £100 million.

The deal does not include the physical network that Sky acquired when it bought Easynet in 2005, but Easynet will continue to have access to the network following its acquisition by LDC and will retain BSkyB as a customer.

Staff numbers will be unaffected by the sale, with the existing Easynet management team led by CEO David Rowe remaining in place, but the deal is still subject to regulatory approval and a works council consultation in respect of certain Easynet employees.

Rowe calls the deal ‘an excellent opportunity’ for the business, adding, ‘It provides us with additional capital to help fund the company’s next phase of development and allows us to retain a business relationship with Sky.’

LDC is the private equity arm of Lloyds Banking Group.