UK internet service provider (ISP) Easynet Global Services has been purchased by a private equity firm for £100 million, in a move which could lead to improved customer service levels.
Lloyds Development Capital (LDC), the private equity arm of Lloyds Banking Group, has assumed control of the managed hosting and broadband provider following successful negotiations.
Networking specialist Easynet had been owned by Sky since 2006, growing by over 40 per cent in the last four years. And despite its profitability, LDC believes it can extract greater value from the business.
David Rowe, Chief Executive Officer at Easynet, said the ISP has always taken a pragmatic approach to the market – following its customers, understanding their needs and providing solutions that add value.
"Our tight focus on our customers will continue under our new ownership," he commented.
"LDC's strategy is closely aligned to our business plan and this will allow us to take a longer-term view of the investments we make to give our customers competitive edge."
Easynet currently has customers in 50 countries around the world, including the UK.