Satellite provider set to expand
By Sylvia Carr
Published: 30 April 2004 14:30 GMT
The Carlyle Group, a private equity firm, has acquired Kingston Inmedia from telecom carrier Kingston Communications for £34m in cash.
Kingston Inmedia is a satellite service provider that offers broadcast and internet products to businesses such as BBC, Reuters, CNN and Xerox.
Nick Thompson, CEO of Kingston Inmedia, sees the deal as an opportunity for his company to expand its reach and "grow significantly over the next few years," according to a statement.
The satellite provider will continue to trade under the name Kingston Inmedia for the time being.
The acquisition was conducted by Carlyle Europe Venture Partners, which earlier this year invested in Germany's Fennel Technologies.
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