UK satellite TV broadcaster BSkyB (Sky) will exit the business-to-business telco market, after agreeing to sell part of its Easynet operation to private equity firm LDC for £100 million (€118.9 million).
LDC hopes to retain David Rowe, current CEO of Easynet Global Services, and has agreed a long-term deal with Sky granting it continued access to the broadcaster’s UK fiber network.
The satellite firm acquired Easynet for £211 million in 2005, and says it played a key part in the early success of its Sky Broadband and Sky Talk consumer packages.
Sky’s CFO Andrew Griffith said the firm would retain Easynet’s UK network assets to “support the continued growth of our residential customers.”
The firm said the deal would have no impact on operating profit in its current financial year.
Easynet Global Services provides data networking and managed hosting services to multinational clients.
LDC managing director Peter Brooks said it was attracted by the consistently “strong financial returns” the operator generates.