By Felicity Ussher, 18 December 1998 17:40
NEWS A UK Internet firm has been snapped up for £15m by investment company, Charriol. Virtual Internet offers services for registering domain names, hosting Web sites and setting up ecommerce solutions. Its clients include Littlewoods, Nestle and Warner Brothers. Charriol, which has no operations of its own, will take on Virtual Internet's name and its managing director, Jason Drummond. Drummond told Silicon.com: "We will focus on building a European brand - there are no companies like us over here. Once we've built up a presence, we'll enter the US market and take on Verio, the dominant Internet solution supplier." The company will be chaired by Chris Atkers, who led the acquisition of Leeds United in 1996 and is a lead investor in FreePages, which runs the www.scoot.co.uk directory service. Charriol floated on the stock exchange two months ago with the express purpose of acquiring an IT company. Its share price rose from 7p to £1.70 in three weeks, as rumours of the acquisition reached investors.
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