(Bloomberg) — Interoute Communications Ltd, a pan-European fiber carrier and cloud-services operator controlled by the Sandoz Family Foundation, has hired financial advisers to evaluate a sale, according to people with knowledge of the matter.
Interoute is working with Credit Suisse and Evercore Inc. to explore a deal dubbed “Project Nitro,” said the people, asking not to be identified because the talks are private. The London-based company could be valued in a range of seven to 10 times earnings before interest, tax, depreciation and amortization, or as much as 1.65 billion euros ($1.95 billion), the people said.
The company owns and operates one of the largest independent European grids with 72,400 fiber-route kilometers spanning 29 countries, according to a document viewed by Bloomberg News.
Representatives for Interoute, Credit Suisse and Evercore declined to comment.
Interoute, whose clients include BT Group Plc, Vodafone Group Plc and AT&T Inc., reported 2016 revenue of 727 million euros and Ebitda of 147 million euros. The company had Ebitda of 165 million euros for the 12 months ending in the second quarter.
The Sandoz Family Foundation owns 70 percent of Interoute, while Aleph Capital and Crestview Partners together own 30 percent. In 2015 Interoute completed the acquisition of U.K. phone carrier Easynet Ltd, its largest purchase to date, adding revenue of about 240 million euros.

 

(Bloomberg) — Interoute Communications Ltd, a pan-European fiber carrier and cloud-services operator controlled by the Sandoz Family Foundation, has hired financial advisers to evaluate a sale, according to people with knowledge of the matter.
Interoute is working with Credit Suisse and Evercore Inc. to explore a deal dubbed “Project Nitro,” said the people, asking not to be identified because the talks are private. The London-based company could be valued in a range of seven to 10 times earnings before interest, tax, depreciation and amortization, or as much as 1.65 billion euros ($1.95 billion), the people said.
The company owns and operates one of the largest independent European grids with 72,400 fiber-route kilometers spanning 29 countries, according to a document viewed by Bloomberg News.
Representatives for Interoute, Credit Suisse and Evercore declined to comment.
Interoute, whose clients include BT Group Plc, Vodafone Group Plc and AT&T Inc., reported 2016 revenue of 727 million euros and Ebitda of 147 million euros. The company had Ebitda of 165 million euros for the 12 months ending in the second quarter.
The Sandoz Family Foundation owns 70 percent of Interoute, while Aleph Capital and Crestview Partners together own 30 percent. In 2015 Interoute completed the acquisition of U.K. phone carrier Easynet Ltd, its largest purchase to date, adding revenue of about 240 million euros.

 

(WEB HOST INDUSTRY REVIEW) — Hitachi Data Systems (www.hds.com) announced on Wednesday it has acquired network storage provider BlueArc (www.bluearc.com) in an all cash transaction. The terms of the deal were not disclosed.

The acquisition builds on the companies’ 5 year OEM partnership, providing customers a combination of Hitachi enterprise-class quality, reliability and support with highly scalable, high performance BlueArc network attached storage.

Wells Fargo Securities was the exclusive financial advisor to Hitachi Data Systems, while BofA Merrill Lynch acted as financial advisor and Credit Suisse as a co-advisor to BlueArc for this transaction.

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