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ARTICLE · 05 JUNE 2000

Notts Internet Company Acquired By Plc.

KPMG
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United KingdomMedia, Telecoms, IT, Entertainment

WebFusion Internet Solutions Ltd, a dedicated internet services company, has been acquired by Magic Moments Internet PLC in a £40 million deal.

The company, which is based in Nottingham, is the brainchild of brothers Jonathan Brealey and Tim Beresford-Brealey. The company started in 1997 and incorporated in 1999. It has quickly set itself up to become the UK's largest web hosting company with over 15,000 accounts, which comprise mainly small and medium sized enterprises. The company recently invested over £1 million in setting up a UK Data Centre.

AIM-listed Magic Moments's strategy is to maximise value for shareholders by establishing a leading European position in the rapidly growing market for the provision of internet hosting and e-commerce solutions to small and medium sized enterprises. The acquisition of WebFusion Internet Solutions Ltd will drive this strategy forward. The co-founders of WebFusion will be appointed board directors to the enlarged Group.

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