London, UNITED KINGDOM – 29 July 2011 – euNetworks GmbH, a subsidiary of euNetworks Group Limited, announced today that it has executed and completed a definitive agreement to acquire German based TeraGate AG Storage Optical Network (“TeraGate”), a company of DB Industrial Holdings Beteiligungs GmbH & Co. KG (a subsidiary of Deutsche Bank AG), and of EGORA Holding GmbH. The acquisition is a natural addition to the Group following the LambdaNet acquisition, with an enterprise customer base predominantly served in the German market. The acquisition closed today.
TeraGate is a leading service provider for next generation Corporate WAN in Germany with a high-end customer base and a market leading value proposition. Offering both national and international solutions to medium and large enterprises, TeraGate’s product portfolio is based on intelligent Ethernet and efficient data centre and cloud services. TeraGate operates in Germany, headquartered in Munich, with technical headquarters in Frankfurt. “The acquisition of TeraGate was a natural next step for us following the LambdaNet acquisition as we continue to develop our German business,” said Brady Rafuse, Chief Executive Officer of euNetworks. “TeraGate has a great customer base, who predominantly purchase multiple services across 7 of the existing euNetworks metropolitan markets in Germany. Leveraging euNetworks’ legacy metropolitan footprint, we expect to be able to bring over 50 buildings on-net, eliminating network expense. Additionally, LambdaNet’s Pan German footprint and operations are expected to provide further synergies.”
euNetworks is a bandwidth infrastructure company, owning and operating 17 fibre based metropolitan networks connected with a high capacity intercity backbone covering 53 cities in 17 countries. The company leads the market in data centre connectivity, directly connecting over 518 today. euNetworks is also a leading cloud connectivity provider, directly connecting to all key cloud platforms with access to additional platforms. The company offers a targeted portfolio of metropolitan and long haul services including Dark Fibre, Wavelengths, and Ethernet. Wholesale, finance, content, media, data centre and enterprise customers benefit from euNetworks’ unique inventory of fibre and duct based assets that are tailored to fulfil their high bandwidth needs.