Energis: Encyclopedia II - Energis - History of Energis

Energis - History of Energis

Energis was formed in 1992 as Telecom Electric, out of the UK's National Grid. Its national Optical fiber network is partially deployed via the overhead power transmission network of the grid.

Energis - Energis Plc

As a company floated on the London Stock Exchange Energis acquired a number of companies in the UK and Europe, including Planet Online, ISION AG and others. At one point its Market capitalization was over 10 billion GBP.

Planet chose Energis as the telecommunications partner to help Dixons launch the Freeserve ISP (now Wanadoo UK). Energis provided the telephony services and Planet provided the e-mail, Internet access, etc. elements.

Energis - Administration

Energis Plc was placed in Administration in July 2002, with its UK operations immediately transfered to Energis Communications Ltd, a wholly owned subsidiary of a holding company called Chelys. Chelys is owned by various banks, which provided 150m GBP of cash to enable Energis to continue operating. These banks were creditors of Energis Plc, and were owed circa 700m GBP, mainly raised through bond issues.

Energis - Cable & Wireless

On 16th August 2005 Cable and Wireless announced they had reached agreement to acquire Energis for an initial cash consideration of £594 million GBP.

The merger was approved by the OFT on the 25 October 2005, link.

C&W announced that the merger would complete and integration begin on 14 November, link.

Energis - Leadership

Energis has been led by a number of Chief Executive Officers in its past.

• Mar 1993 - Dec 1995 David Dey
• Dec 1995 - Aug 2001 Mike Grabiner
• Aug 2001 - Jul 2002 David Wickham
• Jul 2002 - John Pluthero

Adapted from the Wikipedia article "History of Energis", under the G.N U Free Docmentation License. Please also see http://en.wikipedia.org/wiki