Solutrea LTD to Purchase Zetnet LTD
Solutrea LTD, the wireless and digital signage solutions provider, has entered into agreements to purchase Zetnet LTD, the Manchester based business internet service provider.
Bath, England (PRWEB) May 16, 2007 -- Solutrea LTD, the wireless and digital signage solutions provider, has entered into agreements to purchase Zetnet LTD, the Manchester based business internet service provider.
Zetnet is one of the longest established full service business to business ISP's in the United Kingdom, servicing over 5500 clients of which over 80% are small and medium sized businesses based throughout the United Kingdom. Based in Manchester, Zetnet has a strong reputation for reliability and industry leading customer service.
Zetnet's existing client base has access to hosting, DSL, email and other standard ISP services. The acquisition by Solutrea will allow these same clients to benefit from opportunities in voice over IP (VoIP) communications, digital signage and WiFi hotspots add-ons for business clients, giving Zetnet the best value proposition for small business in the marketplace today.
"Solutrea is pleased to announce the integration of Zetnet as a core component into the UK operation." Said David Howgill, VP Sales and Marketing of Solutrea LTD, "Zetnet brings three major components to Solutrea's UK business plan; a highly profitable and stable base, an effective customer services organization that can service our growth across Europe and a client base that will derive direct benefit from the addition of Solutrea's wireless, VoIP and digital signage services. The union of the two companies will hence create increased value for our stockholders and increased service levels for our clients."
"This is a major step for Zetnet and our clients" Said John Hyslop, Managing Director of Zetnet, "For some time we have looked at ways to effectively introduce VoIP and hotspot services to our clients, Solutrea not only fills this need but also capitalizes on our reputation for customer service to create an operational hub in Manchester. We look forward to moving ahead rapidly with the Solutrea team to pursue the opportunities in wireless and signage that they bring with them."
Under the terms of the agreement Zetnet, it's assets, key personnel, intellectual property and client base will transfer to Solutrea; bringing 2006 revenues of over £857,000 and solid growth potential through cross-selling with Solutrea's other services. Zetnet's current owners will not transfer with the sale and will cease internet operations in the United Kingdom. Solutrea will remunerate Zetnet with £857,000 in cash upon closing. The agreement is subject to approval by the Powerstar International Inc. (TSX.V : PWS), board of directors and the Toronto Ventures Exchange.
About Solutrea LTD
Solutrea LTD. is a fast growing provider of Digital Communications Networks for business and government; providing a full range of solutions for digital signage, corporate communications, Retail Hotspots, transport, municipal or campus environments....or even just a better way to connect your business to the internet. Solutrea Inc., a subsidiary of Powerstar International Inc. (TSX.V : PWS), has the exclusive rights to acquire Solutrea LTD. in consideration of their investments in the acquisitions of Solutrea LTD.. For more information visit SOLUTREA LTD
About Zetnet
Zetnet is one of the longest established business to business ISPs in the UK offering a full range of Internet Services. This offering is backed by years of in depth experience in the realities of delivering what businesses need to gain a strong competitive advantage from the Internet and its associated technologies. Zetnet quite simply aims to be the technology partner of choice for UK business. For more information please visit ZETNET HOMEPAGE
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