UK internet service provider Affinity Internet Holdings Plc has acquired BrightFibre Communications Plc, a telephony reseller for around 50,000 pounds ($80,690) in shares. The company, which yesterday claimed to have overtaken America Online Inc to be the UK’s second largest ISP, wants to get its hands on BrightFibre’s billing system and a number of key executives.
Affinity will shortly begin offering its clients’ customers rebranded gas and electricity services, in addition to the fixed and mobile telephony and internet access it currently provides. CEO Wayne Lochner said the firm will announce its plans in a couple of weeks, after it has upgraded BrightFibre’s software into a convergent billing system to bill customers for any of the company’s services.
Brightfibre will be consumed by Affinity’s telephony subsidiary, TeleCentric Solutions Ltd, which provides rebranded telecommunications services for the customers of clients such as Toys R Us and Arsenal Football Club. BrightFibre’s former owner Matthew Sullivan will become managing director of TeleCentric.
Brightfibre has been operating for six months, selling to small and medium enterprises, and was recording losses of 49,724 pounds ($80,349) on revenue of 48,673 pounds ($78,660) as of June 30. Affinity issued 24,390 new shares to pay for the firm, and will swallow 23,943 pounds ($38,687) of net liabilities as a result.
