Tiscali 2001 Annual Report Download - page 46
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38
The total price of the transaction was about EUR 70mn, consisting of EUR 18.7mn in cash
and about 4.8mn new Tiscali shares.
Springboard Internet Services Ltd (LineOne)
At the end of April 2001, Tiscali acquired the British Company Springboard Internet
Services Ltd (trading as "LineOne"), one of the UK's leading ISPs and portals, for a total
price of EUR 100mn, of which EUR 20mn was paid in cash and the rest with about 5.4mn
newly issued Tiscali shares.
LineOne, previously jointly owned by BT Holdings Ltd, Britsh Telecommunications plc (BT)
and United Business Media plc, had over 1.85mn registered users at the end of March
2001, of whom approximately 430,000 were active dial-up subscribers. Again in March
2001, LineOne's active subscribers generated approximately 300mn access minutes, and
each subscriber spent an average of around 23 minutes per day on-line. LineOne is also
one of the UK's leading portals, with 1.3mn unique visitors generating over 81mn page
views in March 2001.
Inicia Comunicaciones SA
In July 2001, a Spanish subsidiary of Tiscali took over the Spanish Company Inicia
Comunicaciones SA, for a cash payment of EUR 8.2mn. Inicia, which was sold by Prisa,
Spain's largest media Group, has 300,000 subscribers, 82,000 of whom are active, making
it one of Spain's leading ISPs. Through its portal, Inicia offers value-added services and
content from the Prisa Media Group. As part of this deal, a B2B agreement was signed for
the provision of telecommunications services to the Prisa Group. The Prisa Group also
provides strategic content to the Tiscali portal network in Spain.
Yucom
In August 2001, Tiscali, through its subsidiary Tiscali Belgium Holding SA, acquired the
branch Company Yucom SA from British Teleommunications plc (BT) and Banque Bruxelles
Lambert (BBL). Yucom ranks among the leading Belgian ISPs and portals, with 85,000
active users generating 43mn minutes of monthly Internet traffic. The takeover cost EUR
4mn in cash. As part of the deal, Tiscali and BBL have entered into a partnership
agreement for the distribution of Tiscali products and services to BBL clients.
Tiny Online Ltd
In August 2001, Tiscali, through its subsidiary Tiscali UK Ltd, acquired 100% of Tiny Online
Ltd, the UK ISP of Tiny Computers Ltd, for EUR 13mn in cash. At the time of the takeover,
Tiny Online had a customer base of over 700,000 registered users, of whom 218,000 were
active in the previous 30 days as at July 31, 2001, generating Internet traffic of more than
100mn minutes in that month.