Jan, 2004 : Via Net.Works Acquires Amen for 7M Euros

📅 January 29, 2004 - Internet service and Web hosting provider VIA NET.WORKS (vianetworks.com) has acquired France-based Web host Amen (amenworld.com 👉 Total Reviews: 5
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VIA NET.WORKS paid 6 million Euros in cash and 1 million Euros in VIA common stock for the company.
VIA NET.WORKS said the acquisition of Amen is expected to contribute an additional 7 million Euros in revenue in 2004 and brings VIA NET.WORKS's total customer base in the US and Europe to 200,000.
"From a strategic perspective, Amen marks the first significant step for VIA's proactive acquisition program as we build on the operational improvements made during 2003 and drive for sustainable profitability and free cash flow," said Rhett Williams, CEO of VIA NET.WORKS. "This is the first proof-point of our commitment to pursue acquisitions that complement our business strategy and deliver immediate benefits to our customers and shareholders."
Williams added that he expects the acquisition to drive the company's focus on the SME sector, positioning itself as a leader in shared hosting. He added that Amen's more cost-efficient hosting platform will allow the company to realize greater cost and operational efficiencies.
Amen provides hosting to the SME market in France, Spain, Italy and the UK.
"The acquisition of Amen by VIA NET.WORKS is an excellent strategic fit for both companies," said Patrick Chassany, spokesman for Amen. "By leveraging Amen's scaleable and flexible platforms together with VIA's existing hosting customers and geographic presence, the combined business is well positioned to take advantage of the growth expected in hosting and related applications over the coming years."