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ESAT Acquires IOL/Postgem

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  • 09-09-1999 3:13pm
    #1
    Coyote
    Registered Users Posts: 1,236 ✭✭✭


    ESAT Acquires IOL/Postgem
    Esat Telecom has agreed to buy Ireland Online and Postgem in a deal valued at £119 Million. The move will make Esat the biggest player in the Irish internet market. The deal, according to RTE will include £24 Million for Postgem's shares. The acquisition of IOL by ESAT will seriously diminish Eircom's Tinet and Indigo ventures since ESAT is offering Flat Rate internet access as part of its SurfNoLimits Package.


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    #2
    Helv
    Closed Accounts Posts: 483 ✭✭Helv


    How come people are still accepting esats IOUs. They must have no money left or be on the brink of bankrupcy!

    [This message has been edited by Helv (edited 09-09-99).]


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    #3
    Hobbes
    Registered Users Posts: 21,264 ✭✭✭✭Hobbes


    I thought PostGem was owned by An Post?

    On a tangent topic. One of the big thing here the internet is hitting is the US Postal service selling of stamps. Anyone know if the same is happening in Irleand?



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    #4
    Draco
    Subscribers Posts: 1,911 ✭✭✭Draco


    I would seriously doubt it - e-mail is still a mystery to a vast volume of people.


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    #5
    Helv
    Closed Accounts Posts: 483 ✭✭Helv


    OH NO....future philanthropists BEWARE


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    #6
    Helv
    Closed Accounts Posts: 483 ✭✭Helv


    OH NO....future philanthropists BEWARE


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    #7
    Helv
    Closed Accounts Posts: 483 ✭✭Helv


    DOH!


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    #8
    Hecate
    Registered Users Posts: 2,518 ✭✭✭Hecate


    just looks like another ****in monopoly to me.


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    #9
    Erisian
    Closed Accounts Posts: 20 ✭Erisian


    Helv, I think you meant philatelists.

    Unless you think the that the elimination of postage stamps will affect the generous.


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    #10
    Hobbes
    Registered Users Posts: 21,264 ✭✭✭✭Hobbes


    I think philatelists are cool... that beak... and how they are the only mammels that lay eggs... freaky.



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    #11
    Lucutus
    Registered Users Posts: 2,831 ✭✭✭Lucutus


    I wouldn't mind, but the company is only worth 7-14 million. Esat have paid approx. 5 times the amount for the company.

    Would you pay £15 for a box of 20 smokes? They'd wanna be a pretty good smoke.


    And we all know IOL/PostGem isn't.


    Lucutus of Borg


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    #12
    DeVore
    Business & Finance Moderators, Entertainment Moderators Posts: 32,387 Mod ✭✭✭✭DeVore


    Standard practise is to pay 3-5 years worth for the company. Its called vision, though often you could call it "throwing your money down the jax".

    Esat got pipped for Cablenet and that was a big blow. They need to acquire numbers so this is a numbers purchase. Same with Indigo and Tinet.

    DeV.


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