Claranet acquires German subsidiary of Netscalibur

Claranet, the UK's largest independent ISP, today announces the acquisition of the German subsidiary of Netscalibur for an undisclosed sum. The acquisition provides Claranet with operations in Berlin, Munich and Frankfurt, complimenting existing infrastructure and making Claranet one of the major players in Europe's largest market. Netscalibur are to focus resources for further investment in the UK and Italy.

Netscalibur, the provider of managed Internet services to European business, is exiting the German market to focus on its profitable and rapidly growing operations in the UK and Italy. The German operation accounts for a small share of overall revenues and will enable Netscalibur to free up resources to accelerate the development of its growing suite of Internet Protocol (IP) services.

This deal represents Claranet's second acquisition and its first major consolidation acquisition. Claranet has been looking for opportunities to expand its European business and the opportunity to acquire the German subsidiary of Netscalibur met our focused strategic business requirements in Germany and forms the basis of further expansion plans in Europe. Charles Nasser, CEO, Claranet Group

Since its launch in Frankfurt in August 2000, Claranet Germany has experienced rapid organic growth offering comprehensive Internet access, hosting and IP security solutions. Claranet Germany becomes Claranet's second largest operation after the UK. Through the deal, Claranet expands its presence in Germany to add Munich and Berlin.

Netscalibur became ebitda+ in the second quarter of 2002 and is on course to achieve growth of nearly 20% in IP revenues this year. Recent account wins include a six-figure web hosting deal with Lycos and a €2.5m contract with Deutsche Telekom in Italy.

Francesco Caio, CEO of Netscalibur, said:

Our unique position in the business market has been strengthened by the further decline of large infrastructure players such as Energis, KPNQwest and Global Crossing; corporate clients increasingly look for service providers with a sound financial base and a competent team capable of guaranteeing security of supply and business continuity.

Thanks to our results and financial position we remain on the look out for opportunities to create value through further acquisitions in our strategic markets.

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