Telco giant BT has made a cash offer of approximately £67m for broadband provider PlusNet.
It will continue to operate from its base in Sheffield and Lee Strafford will remain its chief executive. PlusNet also claimed to have close to 200,000 broadband customers.
Ian Livingston, chief executive of BT Retail, said: “This offer makes great sense for BT. We already provide the UK’s most popular and best-performing ADSL broadband service and this acquisition will ensure that even more people can enjoy our market-leading services. PlusNet’s customers and employees will benefit from the combination of PlusNet’s excellent platform and access to BT’s resources and technology development.”
Strafford, added: “I am pleased to announce BT’s offer. Whilst the PlusNet directors continue to believe that PlusNet is a high quality business, our sector is consolidating and there are considerable benefits to PlusNet in becoming part of BT. BT recognises the importance of retaining PlusNet’s identity and culture and I believe this will give rise to exciting opportunities for PlusNet, our customers and our employees.”
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