Metronet

PlusNet Plc acquire Parbin Limited, trading as Metronet.

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PlusNet, the UK’s best value internet service provider, today announces the acquisition of Parbin Limited, for £1.7m. The acquisition will be financed from PlusNet’s existing cash resources.

Parbin, which trades as Metronet, has over 16,000 broadband customers and recently topped a Which? magazine survey evaluating customers’ satisfaction with their broadband internet service provider.

Lee Strafford, PlusNet’s Chief Executive, commented:

“The acquisition of Parbin gives us access to a business with a strong reputation and a growing broadband customer base. We plan to broaden product choice and enhance customer support including 24/7 coverage for Metronet’s customers.”

Paresh Morjaria, Parbin’s founder and Managing Director, commented:

“PlusNet has an excellent track record and its customer philosophy is in line with Metronet’s. This development will give Metronet’s customers access to PlusNet’s investment in high value and innovative broadband products.”

PlusNet’s resources will mean that Metronet customers will get access to new services such as VoIP and Wireless Broadband, as well as 24 hour telephone and online support.