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Thursday, November 19, 2009
Deutsche Telekom Buys Strato From Freenet
By Polya Lesova
MarketWatch Pulse
FRANKFURT -- Deutsche Telekom AG said Thursday it will buy 100% of the shares in webhosting providers Strato AG and Strato Rechenzentrum AG from telecommunications company Freenet AG . The agreed price for the acquisition is 275 million euros ($410 million), payable in cash at closing of the deal, German-based Freenet said. The supervisory boards of both companies have already approved the transaction, but the deal is subject to clearance from competition authorities, such as the German Federal Cartel Office. Deutsche Telekom said the deal will make it number two for webhosting products in Germany. Strato's products include e-mail, websites, blogs, and online shops as well as data storage services on physical and virtual servers. They are mostly aimed at consumers and small business customers. Shares of Deutsche Telecom were down 0.2% in recent trading.
Copyright © 2009 MarketWatch, Inc.
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