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Active 24 Acquires Swedish Host Loopia.
2005-06-29, HostMan.biz European Web hosting provider Active 24 (active24.com) announced on Wednesday that it had completed its acquisition of Swedish host Loopia (loopia.co.yu), first announced in late April. Active 24 paid 14,043,000 Kroners, or approximately $2.1 million US. A total of 90 percent of the price was paid in cash, with 10 percent in shares. "We are indeed very pleased that we now have signed the final agreement, getting the highly knowledgeable staff and product offering of Loopia and their big number of customers on board," says Jaap Zuiderveld, CEO of Active 24. The company says the integration process will last roughly six months and will result in savings of about one million dollars. Loopia, with 35,000 domains, is focused on the small business and home office market. Active 24 says it plans to expand Loopia's product offering across Europe under the Loopia brand. |
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