Timico has snapped up NewNet, the privately owned Hampshire-based ISP. The acquisition will bolster Timico's IP services offering, adding further technical expertise and network infrastructure, in addition to a portfolio of well-established business clients, including a number of local government organisations.
Tim Radford, Chairman, Timico Group, said: "The acquisition allows us to increase the size and value of our business, and enhance our range of connectivity and hosting services to meet growing demand for fully managed network and data centre solutions. NewNet clearly shares our commitment to service excellence and will make an exciting addition to the Timico Group."
Fareham-based NewNet boasts a product portfolio including bespoke fibre optic networks and LLU services. It has a presence in four south coast and five London-based data centres and 11 LLU exchanges.
NewNet has seen year-on-year growth since its inception in 1995. The business was started by Executive Chairman and Chief Executive Officer, Peter Coates-Buglear, supported since 2002 by John Mobley, Managing Director.
Coates-Buglear said: "Our move into the Timico fold is a good one for both NewNet and our customers. We look forward to combining our respective strengths, particularly in the co-location and hosting environments."
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