BT to acquire Brightview for GBP 15.8 millionBT has agreed to acquire consumer ISP Brightview Group for approximately GBP 15.8 million in cash, subject to approval from Brightview’s shareholders. Brightview operates the ISP brands Madasafish and Global Internet, as well as the Which? Waitrose ISP. Brightview is also working with the John Lewis Partnership to launch its new ISP and telephony service under the GreenBee brand. Brightview said it plans to use GBP 3.7 million of the proceeds to repay outstanding loans and GBP 1.6 million to settle other expenses. With the remaining cash, the management is considering a return of cash to shareholders and an acquisition in the UK marketing and support services, media or telecoms sectors. The ISP business made up the bulk of Brightview’s trading business.
