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GO plc in €8 million takeover of data providers
GO plc has entered into a share purchase agreement for the acquisition of the remaining 40% of the issued share capital of BM IT Limited, BM Support Services Limited and Bellnet Limited for a total cost of €8 million.
The acquisition that was made public through a company announcement that was registered on the Malta Stock Exchange, consolidates GO plc’s position as a data provider and completes the takeover of the companies it previously had a 60% stake since 2009.
In April 2009, GO plc had announced that the Group entered into a share purchase agreement for the acquisition of 60% of the issued share capital of BM IT Ltd, BM Support Services Ltd and Bell Net Ltd for €9.5 million.
Bell Net Limited, which has been operating as an ISP since 2003 covering mostly the corporate sector became a subsidiary of GO in order to transfer its ISP business to GO. Bell Net Ltd is a wholly owned subsidiary of Bell Med Limited which was established in 1996 as a content provider of financial Services information through its website business-line.com.
Since 1998 Bell Med had further expanded its range of operation by including hosting and IT support for its corporate customers.
IT security and auditing became a major service within Bell Med’s services portfolio. In 2003 Bell Med Ltd gained a license to operate as an ISP. Under its newly formed branch – Bell Net – the company started to offer broadband Internet connectivity to its corporate customers as well as to home users in Malta and Gozo. Today Bell Med provides e-security, consulting and testing to business customers as well as to professional consulting firms.
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@The Alchemist, you know that your statement is a complete lie, typical of pl. Last time that Go increased a few cents it sent a letter to all subscribers informing us that if anybody wanted to disconnect the service prior the 24 month contract no charges were to be imposed.
@ Cool Breeze Normally when someone invest he is in a fair strong position so why you want to create fear of job loss, I know a lot of customers prefer the old telephone system ????, grow up. As I always say people like you are an asset to the pn
Joseph MELI •
Standby for more job losses as the GO grim reaper will soon wield his scythe
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Hope they have the necessary cash available so that takeover would not come at the expence of the consumers by having their bills increased.
Go are know to increase their tariff even when they (Go) and the consumer is bound by a 24 month contract. And all your protests will lead you nowhere, not even an acknowledgement to your complaint!
