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Timico Acquire Powernet

Powernet acquired by Timico Group to form one of the UK's most advanced broadband infrastructures.

Powernet will continue to operate as an individual business unit but will provide a wider range of services and increased scalability to existing and future customers.

Milton Keynes, UK - 3rd June 2011 - Powernet, the UK's oldest ISP, has announced that it has been acquired by Timico Technology Group, a provider of business strength IP and converged communications solutions and one of the UK's fastest growing ISPs. Powernet will continue to operate as an independent business unit, but will be able to provide existing and future customers with a wider range of converged service offerings.

As a result of the acquisition, customers will now benefit from one of most sophisticated and resilient ISP infrastructures in the UK. Powernet's management team will continue in their current positions and its research and development capabilities will be used across the Group to benefit all customers.

Powernet CEO and one of the ISPs founders, Tony Tugulu, said: "Powernet has always invested in sophisticated technology in order to provide our customers with market-leading products and exceptional service. Timico shares a similar philosophy, which was an important factor in our decision to accept their offer. We believe that, with the backing of Timico, we can continue to offer a superior experience to our existing customers, while enabling them to benefit from a greater pool of technology expertise, an expanded service offering and a network infrastructure that will scale to meet their future requirements."

Tim Radford, Chairman of Timico Technology Group said: "The acquisition of Powernet is a perfect opportunity for Timico. It gives us further scale to meet the growing need for fully managed IT and communications solutions, whether they be private wide area networks or hosted data centre solutions. With its impressive focus on research and development and its investment in a similar infrastructure to our own, we share the same commitment to provide our customers with cutting edge technology solutions and unparalleled service and support."

Powernet have Network Operations Centres in Milton Keynes, London and Manchester and employ 30 staff across these locations.

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About Powernet

Founded in 1995, Powernet is one of the UK's longest-established ISPs. It has developed one of the most resilient infrastructures currently available in the UK with Network Operations Centres in Milton Keynes, London and Manchester.

Powernet specialises in providing Wide Area Network (WAN) solutions to organisations with multiple locations, alongside internet connectivity, hosting and VoIP services for a variety of business customers including Travis Perkins, Silverstone, Sheffield City Council, Jaguar and Land Rover.