UPC acquires Bitbuzz for €6m
The diversified communications giant — which is also set to launch its own mobile phone service, using the 3 Ireland network, late next year — is understood to be paying between €5m and €6m for Bitbuzz, which also has operations in the UK. There has been much speculation in recent weeks about a deal being in the offering, but UPC only confirmed the transaction yesterday.
“This is a first step in our plans to expand UPC’s services in the business market, by adding value-added services that complement our high speed broadband services,” said Gavan Smyth, UPC’s vice-president of business services, yesterday.
Bitbuzz largely provides wifi services to popular public locations such as hotels, airports, bars and cafes, as well as roaming solutions to foreign network operators.
Earlier this year, the company said its revenues broke the €1m mark on the back of strong growth in past year.
Bitbuzz managing director, Shane Deasy said yesterday that the deal with UPC would see the company grow and marks “a very positive development”.
“The combination of our two businesses will enable Bitbuzz customers to benefit from UPC’s expertise, services and global reach. Our widespread wifi network will also expand into new market sectors,” he added.
“By joining together, we will share our collective strengths and enhance our overall services for customers, while retaining a strong identity,” Mr Deasy said.
