TMCnet News
: euNetworks Acquires TeraGate AG Storage Optical NetworkJul 29, 2011 (M2 PRESSWIRE via COMTEX) -- euNetworks GmbH, a subsidiary of euNetworks Group Limited (SGX: H23.SI), announced today that it has executed and completed a definitive agreement to acquire German based TeraGate AG Storage Optical Network (TeraGate), a company of DB Industrial Holdings Beteiligungs GmbH & Co. KG (a subsidiary of Deutsche Bank AG), and of EGORA Holding GmbH. The acquisition is a natural addition to the Group following the LambdaNet acquisition, with an enterprise customer base predominantly served in the German market. The acquisition closed today. TeraGate is a leading service provider for next generation Corporate WAN in Germany with a high-end customer base and a market leading value proposition. Offering both national and international solutions to medium and large enterprises, TeraGates product portfolio is based on intelligent Ethernet and efficient data centre and cloud services. TeraGate operates in Germany, headquartered in Munich, with technical headquarters in Frankfurt. The acquisition of TeraGate was a natural next step for us following the LambdaNet acquisition as we continue to develop our German business, said Brady Rafuse, Chief Executive Officer of euNetworks. TeraGate has a great customer base, who predominantly purchase multiple services across 7 of the existing euNetworks metropolitan markets in Germany. Leveraging euNetworks legacy metropolitan footprint, we expect to be able to bring over 50 buildings on-net, eliminating network expense. Additionally, LambdaNets Pan German footprint and operations are expected to provide further synergies. This transaction will provide greater service options across a wider geography for TeraGates customers, said Jrgen Hansjosten, Chief Executive Officer of TeraGate. The network footprint and portfolio now available to our customers will continue to strengthen the trusted relationships we have in place today. Furthermore, we can now deliver scalable solutions more efficiently and effectively to enterprises who rely on us for their communications needs. We are delighted to welcome TeraGate to euNetworks, said Brady Rafuse. TeraGates product set is highly complementary to euNetworks and there is clear value to be created from leveraging the euNetworks and LambdaNet backbones and metropolitan networks for TeraGate service delivery going forward. While we quickly work through integration to realise synergies and grow revenues, we remain focused on delivering a great service to all of our customers and growing our opportunity further. About euNetworks euNetworks Group Limited (SGX: H23:SI) is a bandwidth infrastructure provider, owning and operating 13 fibre based metropolitan networks across Europe connected with a high capacity intercity backbone covering 37 cities in 9 countries. The Company offers a portfolio of metro and longhaul Ethernet and Internet Protocol services including Dark Fibre, Dedicated Fibre, Wavelengths, Ethernet, and Internet. Enterprise and carrier customers benefit from euNetworks unique inventory of fibre and duct based assets that are tailored to fulfil their high bandwidth needs. euNetworks Group Limited is headquartered in London and publicly listed on the Singapore Stock Exchange. For further information please visit www.eunetworks.com. About TeraGate AG Storage Optical Network TeraGate is Germanys technologically leading service provider for Next Generation Corporate WAN. It offers national and international solutions to company communication based on intelligent Ethernet and efficient data centre services. TeraGate focuses on medium-sized business customers and large enterprises. Individual service and systematic quality management are the hallmarks of TeraGates solutions. euNetworks Investor and Press Contact: Hannah Fox Marketing Director, euNetworks D: +44 207 952 1338 M: +44 7717 896 446 E: [email protected] euNetworks 15 Worship Street London, EC2A 2DT, United Kingdom ((M2 Communications disclaims all liability for information provided within M2 PressWIRE. Data supplied by named party/parties. Further information on M2 PressWIRE can be obtained at http://www.presswire.net on the world wide web. Inquiries to [email protected]. |