Thus (company)

Last updated

Thus Ltd.
Subsidiary
Industry Telecommunications
Founded1994 (as Scottish Power Telecommunications Holdings Ltd)
Headquarters Glasgow, Scotland, UK
Number of employees
1,700 (2009)
Parent Vodafone
Website www.thus.net

Thus was a telecommunications provider operating in the United Kingdom based in Glasgow, Scotland. The company was once listed on the London Stock Exchange and became a subsidiary of Cable & Wireless Worldwide (CWW). Following the acquisition of Cable & Wireless Worldwide by Vodafone in July 2012, the company was gradually integrated into Vodafone. This was completed on 1 April 2013. [1]

Contents

History

The company was founded in 1994 as Scottish Power Telecommunications Holdings Ltd (trading as Scottish Telecom), an offshoot of the energy company Scottish Power. In 1998 the company acquired Demon Internet. [2] Rod Matthews, who had founded the business, remained as Chief Executive until 1999. [3]

On 4 October 1999 Scottish Telecom announced their new name "thus". [4]

A short while later in 1999, the newly named Thus PLC listed on the London Stock Exchange. [5]

In 2002 it was demerged from Scottish Power in a deal which effectively wiped out the majority of the company's debts, placing the company on a sound financial footing. [6]

In August 2004 it sold its call centre operation to Response Handling Ltd and in 2006 it acquired Your Communications and Legend Communications. [7] [8]

On 28 May 2008 Cable & Wireless plc announced their intention to purchase the company with an offer of 165p per share: this first offer was rejected on 6 June 2008. [9] On 30 June 2008, Cable & Wireless announced that it had acquired a 29.9% stake in Thus and tabled an improved offer of £329 million, or 180p per share. [10] On 1 October 2008, Cable & Wireless completed the takeover of Thus: the company became known as "Thus, a Cable & Wireless business". [11]

Operations

The company supplied some services (most notably Internet services) to small businesses. Many of its major customers had their business transferred to Cable & Wireless Worldwide. [11]

Network

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References

  1. "Changes to your invoices" (PDF). Vodafone. April 2013. Retrieved 17 April 2013.
  2. Scottish Telecom buys Demon Internet Internet News, 5 May 1998
  3. Matthews in new venture Independent on Sunday, 31 March 2001
  4. "ScottishTelecom Changes Name - InternetNews". www.internetnews.com. Retrieved 9 August 2020.
  5. Journal, Silvia Ascarelli Staff Reporter of The Wall Street Journal (26 October 1999). "Scottish Firm Thus PLC Leads Telecom IPO List". Wall Street Journal. ISSN   0099-9660 . Retrieved 9 August 2020.
  6. And thus the demerger finally came to pass Independent, 20 December 2001
  7. RHL secures buy-out of contact group Thus Precision Marketing, 16 July 2004
  8. Thus agrees to buy Your Communications and Legend Financial News, 1 February 2006
  9. Thus Group rejects Cable & Wireless approach Archived 4 October 2011 at the Wayback Machine Announcement, 6 June 2008
  10. C&W makes offer for Thus Reuters, 30 June 2008
  11. 1 2 "Cable & Wireless buys Thus". ZD Net. 2 October 2018. Retrieved 30 June 2018.