Dec 13, 2004 : Freenet.de Acquires Web Host Strato

📅 December 13, 2004 - Internet service provider Freenet.de AG (freenet.de) has acquired German Internet service provider Teles AG's (teles.de) Web hosting division Strato (strato.de ) for $132 million Euros, 80 million of which will be paid in cash and 3.1 million in shares of freenet.de, according to a report by Heise Online.

Teles will also receive 10 million Euros in the next three years for ?technical network systems from the product range of Teles that freenet.de,? the report said.
Sigram Schindler, chief executive officer at Teles AG, said in the report that the company has sold its Web hosting operations to concentrate on its wireless broadband Internet access service, which the company believes will be its main area of future growth.
All of Strato's staff and management will be retained, the report said, including chief executive officer Rochus Wegener.

Reads: 3869 | Category: General | Source: TheWHIR : Web Host Industry Reviews
URL source: http://www.thewhir.com/marketwatch/fre121304.cfm

Company: Strato

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