Internet service provider Unipalm Plc is going for broke with big international expansions, buying stakes in similar businesses in South Africa, a company covering Belgium, Luxembourg and the Netherlands, and Hungary, having already agreed already to take a stake in a French partner. None of the stakes come too expensive, since the total outlay is only ú470,000. The Hungarian venture gives Unipalm 32% of start-up company iSYS Hungary for ú74,000 – and no-one should under-estimate countries like Hungary when it comes to easy-to-use systems like the Internet – Hungarian users are likley to be keen over-achievers once they can get a phone line. In South Africa, it is to take a 24% stake in Public IP Exchange (Pty) Ltd, a new company formed to serve the growing market for commercial Internet service in South Africa, paying ú180,000 by way of loan capital during the first six months of operation. The partner in the venture is Datatec Ltd, a company listed on the Johannesburg stock exchange that specialises in distribution of networking equipment. In Belgium, for Benelux, it has paid ú217,000 for a 14.9% stake in INnet International NV, which has INnet NV Belgium, INnet Luxembourg SA and INnet/Pipex Nederland BV subsidiaries – the latter two are new companies formed to build on the success of INnet in Belgium which began trading in early 1994 and now has over 300 corporate customers. The three companies, are, or will become members of the Pipex International Network.
