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ISP Easynet has been bought out by the private equity arm of Lloyds Banking Group.
The deal will see Easynet part ways with parent company BskyB, although it will retain the use of Sky’s access network.
Easynet’s founder David Rowe said the deal will benefit customers.
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“Our strategy has always been to take a pragmatic approach to the market. We follow our customers, understand their needs and provide solutions that add value,” said Rowe. “Our tight focus on our customers will continue under our new ownership.”
Daniel Sasaki, a director at Lloyds, said Easynet’s profitability had marked it out as a prime acquisition target.
“We have made a long-term investment in the company as we believe there is considerable untapped global demand for its unique value proposition,” said Sasaki.
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