Anish Kapoor, co-founder of Yuuguu was a co-founder of Telecity with Mike Kelly of Manchester University during the first dot.com boom. Telecity was one of the darlings of the Internet boom achieving £1bn market capitalisation but collapsed with the dot.com collapse. After taking over Redbus and with the second dot.com boom taking place as we speak, the original investors, 3i from UK and Oak Hill from US are looking to cash in their investment through an IPO. TelecityRedbus have hired corporate financiers at Deutsche Bank to advise on the strategic options available. As well as the potential IPO, Deutsche Bank will also explore the possibility of a trade sale.
TelecityRedbus provides co-location facilities for ISPs and large corporates. Its clients include Ernst & Young, Transport for London and Virgin Radio.
Recent acquisitions by Telecity includes:
- Redbus – £58m
- Globix – £$62m
Tags: Anish Kapoor, Mike Kelly, Yuuguu, co-location services, Redbus Interhouse, Telecity, TelecityRedbus, Globix, 3i, Oak Hill, Venture Capital, VC, IPO