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United Kingdom : SHEFFIELD broadband company ASK4 in £21.5 million buy-out deal

May 27, 2014

A private equity company did a 21.5 million deal to purchase a majority stake in Sheffield broadband company ASK4, in a big endorsement of founder Jonathan Burrows.

He will continue as managing director as the company prepares for undisclosed investment.

The business, of Fitzwilliam Street in Sheffield city centre, employs over 100 and recorded revenues of 10.2 million in 2013. It specializes in student accommodation and has over 100,000 users all over the UK as well as 400 businesses. It runs a 180-rack tier-two data centre in the city.

With demand greater than ever for reliable, high speed internet services, the timing is perfect for us to bring in external investment that will help us take the business into a new phase of growth. The team at Darwin has impressed us with its focus and understanding of our market. With its support, we are committed to developing our technology offering and continue to deliver value, innovation and quality service to our customers, said Jonathan Burrows.

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Source: TendersInfo (India)

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