Telstra has extended its ICT services portfolio with the AU$127 million acquisition of PSINet UK, a provider of e-business infrastructure and corporate IP-based communication services.
The telecommunications heavyweight said the acquisition would allow it to deliver ICT services to multinational companies operating between Australia and the United Kingdom.
Telstra's business and government managing director David Thodey said the PSINet UK acquisition would allow the company to extend its existing offerings of global carriage services to the UK to encompass "value-added solutions such as security services, storage, managed hosting and disaster recovery"
PSINet UK -- which recorded revenues of AU$83 million in the 2003 financial year -- has more than 100 staff based in London and Cambridge and operates a 10,000 square-metre data and hosting centre in London's Docklands area.
The acquisition comes after the telecommunications company's purchase of Australian ICT services company the Kaz Group.