Business Serve Acquires Pipemedia

HostReview.com
Friday, November 26, 2004; 03:28 PM

Business Serve plc, a UK based ISP (Internet Service Provider), yesterday announced that it has acquired the telecommunication group of affiliated companies, Pipemedia, which comprises Pipemedia Limited, Pipecall Limited and Pipemedia Communications Limited.

Pipemedia is a provider of Voice Over Internet Protocol (VoIP) and broadband telephone services to both corporate and carrier customers. Its acquisition enables Business Serve to transform into a converged communications provider spanning both the telecommunication and ISP marketplace.

Business Serve has acquired Pipemedia for an initial consideration of £300,000 together with 692,841 ordinary shares of 1p each. In addition to the initial consideration, deferred consideration of up to a maximum of £1.5 million, settled equally between cash and shares, may become payable over the next two years, should Pipemedia achieve certain performance targets.

Simon Cleaver, Chief Executive of Business Serve plc, said, "Our immediate aim is to fully integrate Pipemedia so that we can concentrate as quickly as possible on the cross-sell opportunities between the two customer bases and take full advantage of the opportunities that are emerging from within the VoIP marketplace."