closedownarrowlogo-verticalmenu-barsearch Skip to main content
Jump to navigation
Customer news

Business broadband provider Updata UK has sold a majority stake in its company to an investment firm.

According to a statement on its official website, LMS Capital has acquired a 53.3 per cent stake in the internet service provider (ISP) this week.

The all-cash deal set the company back £6.2 million and was launched in support of a management buy-out.

Updata, which specialises in providing broadband and network services to public-sector organisations, was previously owned 60 per cent by Danish firm Updata Europe A/S.

LMS Capital revealed that the ISP enjoyed a turnover of £5.1 million in the year to June 2008, a figure which rose to £10.9 million in the following year.

Pieter Hooft, Managing Director of UK Investments for the international company, said: " The management of the company has instilled a culture of excellence in customer service which differentiates Updata UK from its competitors."

Meanwhile, network supplier NetServices told Computer Weekly recently that the government's plans for the broadband industry will benefit consumers but do very little to aid businesses.

Join the conversation

comments powered by Disqus

Stay up to date

  • Google+ Follow uSwitchTech
  • Subscribe to our RSS feed

Latest Comments

  • Dave 2 days ago TalkTalk CEO reads 'awful'... Didn't have Internet access for 2 month 1st engineer didn't turn up down to broken down van day of...
  • Patricia.Green.92 4 days ago Scientists use infra-fed to make... I was paid 104000 bucks past year by doing an on-line task furthermore I was able to do it by w­orking in...
  • Amy.Mercado 4 days ago Sky Q customers to get F1 races... I was paid 104000 dollars last 12 months by doing an online job moreover I was able to do it by w­orking...

Search news