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GIC ACQUIRES NETBENEFIT

Internet business solution provider and .co.uk domain name registrar, NetBenefit Ltd has been acquired by a newly established holding company, the General Internet Corp. Set up by millionaire businessman Ken Young, GIC will take a back seat role in the running of NetBenefit, which was established by managing director Jonathan Robinson some two-and-a-half years ago. Robinson will continue to run the business as a division of GIC. The acquisition will enable NetBenefit to buy new equipment and recruit extra staff. GIC already has interests in several other Internet concerns including EasyNet, Cyberia and Wicked Web. NetBenefit, based in London, will concentrate on its core businesses; domain name registration, electronic mail forwarding and web hosting. Part of the undisclosed cash injection from GIC may be used to form an alliance within the industry to boost the company’s growth.

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