euNetworks Group Limited SGX stocks
euNetworks, a subsidiary of euNetworks Group Limited, announced that it has executed and completed a definitive agreement to acquire German based TeraGate AG Storage Optical Network, a company of DB Industrial Holdings Beteiligungs (a subsidiary of Deutsche Bank), and of EGORA Holding.
According to a release, the acquisition is a natural addition to the Group following the LambdaNet acquisition, with an enterprise customer base predominantly served in the German market. The acquisition closed.
TeraGate is a service provider for next generation Corporate WAN in Germany with a high-end customer base and a market leading value proposition. Offering both national and international solutions to medium and large enterprises, TeraGate's product portfolio is based on intelligent Ethernet and efficient data centre and cloud services. TeraGate operates in Germany, headquartered in Munich, with technical headquarters in Frankfurt.
"The acquisition of TeraGate was a natural next step for us following the LambdaNet acquisition as we continue to develop our German business," said Brady Rafuse, CEO of euNetworks. "TeraGate has a great customer base, who predominantly purchase multiple services across 7 of the existing euNetworks metropolitan markets in Germany. Leveraging euNetworks' legacy metropolitan footprint, we expect to be able to bring over 50 buildings on-net, eliminating network expense. Additionally, LambdaNet's Pan German footprint and operations are expected to provide further synergies." "This transaction will provide greater service options across a wider geography for TeraGate's customers," said Jurgen Hansjosten, CEO of TeraGate." The network footprint and portfolio now available to our customers will continue to strengthen the trusted relationships we have in place. Furthermore, we can now deliver scalable solutions more efficiently and effectively to enterprises who rely on us for their communications needs." euNetworks Group Limited is a bandwidth infrastructure provider, owning and operating 13 fibre based metropolitan networks across Europe connected with a high capacity intercity backbone covering 37 cities in nine countries.
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According to a release, the acquisition is a natural addition to the Group following the LambdaNet acquisition, with an enterprise customer base predominantly served in the German market. The acquisition closed.
TeraGate is a service provider for next generation Corporate WAN in Germany with a high-end customer base and a market leading value proposition. Offering both national and international solutions to medium and large enterprises, TeraGate's product portfolio is based on intelligent Ethernet and efficient data centre and cloud services. TeraGate operates in Germany, headquartered in Munich, with technical headquarters in Frankfurt.
"The acquisition of TeraGate was a natural next step for us following the LambdaNet acquisition as we continue to develop our German business," said Brady Rafuse, CEO of euNetworks. "TeraGate has a great customer base, who predominantly purchase multiple services across 7 of the existing euNetworks metropolitan markets in Germany. Leveraging euNetworks' legacy metropolitan footprint, we expect to be able to bring over 50 buildings on-net, eliminating network expense. Additionally, LambdaNet's Pan German footprint and operations are expected to provide further synergies." "This transaction will provide greater service options across a wider geography for TeraGate's customers," said Jurgen Hansjosten, CEO of TeraGate." The network footprint and portfolio now available to our customers will continue to strengthen the trusted relationships we have in place. Furthermore, we can now deliver scalable solutions more efficiently and effectively to enterprises who rely on us for their communications needs." euNetworks Group Limited is a bandwidth infrastructure provider, owning and operating 13 fibre based metropolitan networks across Europe connected with a high capacity intercity backbone covering 37 cities in nine countries.
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