1st Feb 2007 07:02
Kingston Communications(Hull)PLC01 February 2007 1 February 2007 KINGSTON COMMUNICATIONS (HULL) PLC ACQUISITION OF MISTRAL LIMITED Kingston Communications (HULL) PLC ("Kingston") has today acquired MistralInternet Group Limited ("Mistral") for a cash consideration of £19.6 million.Mistral is a UK business internet service provider, specialising in the deliveryof connectivity, hosting and data protection services for businesses. This acquisition is part of Kingston's ongoing strategy to accelerate the growthand capabilities of its UK broadband business. Mistral increases the scope ofKingston's internet operations, deepening its expertise in the managed servicessector of the fast growing broadband internet services market. Mistral, which provides a strong complementary fit with the services alreadyprovided through our Eclipse Internet brand, will be managed as part of theKingston Communications business. Mistral currently has a customer base of approximately 5,000 business and publicsector clients as well as providing specialist services for a number of largecorporate clients. In the year ended 31 December 2005, Mistral reported turnover of £19.7 million,an EBITDA of £2.5 million and loss before tax of £0.4 million. As at 31 December2005, the business had gross assets of £16.3 million including a cash balance of£0.9 million. The business has grown strongly over the last 12 months and basedon current performance, the acquisition is expected to be immediately earningsaccretive. Commenting on the acquisition, Malcolm Fallen, Chief Executive of KingstonCommunications, said: "Mistral has an established reputation in the businessbroadband marketplace, offering a high quality range of services to itscustomers. The addition of Mistral to the Kingston Group will significantlyenhance the depth and breadth of our existing internet offering and willaccelerate our position as a leader in the provision of a range of broadbandinternet related services to smaller businesses across the UK." ENDS For further information, please contact: Kingston Communications (HULL) PLC Corporate CommunicationsAnita Pace Tel: 01482 602666 Mobile: 07770 744322 MaitlandColin Browne Tel: 020 7379 5151 Mobile: 07733 103800 Note to editors About Kingston Communications Kingston Communications is a leading provider of communications. Ourcapabilities are built on the solid experience gained in our heartland in EastYorkshire, where we have been providing leading edge residential and businessservices for 100 years. Today, we also offer a wide range of voice, data and internet services tobusinesses across the UK as well as outsourced contact centre services. Usingour own network infrastructure, we deliver reliable, cost effective connectionsfor our customers. By listening and working closely with them, we use ourexperience and expertise to help companies serve their own customers aseffectively as possible. Kingston Communications is a member of the TechMark exchange. For further details on Kingston Communications, please visit our website atwww.kcom.com About MistralMistral Internet Group Limited ("Mistral" or "the Company") is a leadingindependent ISP focusing on corporate and public sector customers in the UK. Itprovides a range of products and services aimed at connecting businesses to theInternet, and hosting and protecting their data. Through its broad productportfolio, the Company aims to act as a one-stop shop for its customers'Internet infrastructure requirements and beyond. The Company specialises in the provision of connectivity, hosting and securityservices. Mistral's core connectivity products include ADSL, SDSL and leasedline provision, while on the hosting side the Company provides a range ofco-location, managed hosting and complex hosting solutions. For further information, please visit the website at www.mistral.net This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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