LDC is to acquire Easynet Global Services from BSkyB for £100 million.
Lloyds private equity branch LDC is to acquire Easynet Global Services from BSkyB for £100 million.
Easynet is the business-to-business telecommunications branch of BSkyB, which is to sign a long-term supply agreement with LDC to give Easynet access to its national fibre network in the UK after the sale. BSkyB will also continue to be a business customer of Easynet.
Having been identified as a non-core division by BSkyB, the management team of Easynet approached LDC to back the buyout. The management’s undisclosed personal funding in the deal will see them with 15 per cent of the equity in the company.
Founded in 1994, EMC has over 1,100 staff, and operates in eight European countries. The London-based company designs and manages data networks for large businesses.
The deal, which is subject to regulatory approval, will not affect staff numbers.
Under the terms of the deal, Easynet CEO David Rowe and the management team will be joined by former BT Global Services CEO Hanif Lalani, who is to join the board as a non-executive director.
