Telekom awaits approval for Strato takeover
Source: Agencies |
November 20, 2009, Friday
|
Print Edition
Print Edition
GERMAN telecoms provider Deutsche Telekom AG is taking over Strato, a German Web hosting company.
Deutsche Telekom, based in Bonn, said the boards of both companies had approved the plan but that it still faced regulatory approval. The companies did not release financial details.
Telekom said the transaction would make it a leader in the German Web hosting market with Strato's products that include and enable e-mail, Websites, blogs, online shopping and data storage. Strato's business is primarily aimed at consumers and small businesses.
Strato, based in Berlin, employs 502 people and operates about 4 million hosted domains.
"This step boosts our position on the highly interesting market for hosting solutions," Niek Jan Van Damme, a Telekom official, said.
Deutsche Telekom, based in Bonn, said the boards of both companies had approved the plan but that it still faced regulatory approval. The companies did not release financial details.
Telekom said the transaction would make it a leader in the German Web hosting market with Strato's products that include and enable e-mail, Websites, blogs, online shopping and data storage. Strato's business is primarily aimed at consumers and small businesses.
Strato, based in Berlin, employs 502 people and operates about 4 million hosted domains.
"This step boosts our position on the highly interesting market for hosting solutions," Niek Jan Van Damme, a Telekom official, said.
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