LONDON -- altoHiway, one of the UK’s last remaining independent internet service providers (ISPs) has been snapped up by Carphone Warehouse in a substantial deal that sees the Berkshire based ISP become an integral part of Opal Business Solutions – the market leading B2B network solutions division of the Carphone Warehouse group.

The proceeds of the sale, which have not been disclosed, will be shared amongst Richard Sharpe, the company’s founder and the 40 staff, based at altoHiway’s two sites in Newbury. These include a purpose-built data centre, which was opened three years ago as part of a £1m expansion programme by the company.

As part of the deal, Richard Sharpe will relinquish his role as Managing Director, although other members of the senior management team including Stewart Lawrence (Finance Director); Chris Wood, (Sales Director); Dave Mullender, (Technical Director) and Chris Arnold, (Systems Director) are expected to take on new positions within Opal in the next few days.

Sharpe and his team were advised by international chartered accountants, The Norton Practice (TNP), based in the Thames Valley. The Practice has a strong technology, media and telecommunications focus and the team was led by Rory Kindlon, who last year also advised on the sale of another ISP, REDNET, to OneTel, which has subsequently been taken over by Carphone Warehouse.

Says Kindlon: “altoHiway is one of the last remaining ‘quality’ independent ISPs of any size left in the UK and its acquisition has provided an excellent fit for Opal in terms of current size and growth trends. The management team have been looking for some time to develop the business and now, as part of a much larger organisation, they will have the means to do just that.

“Although there were a number of other parties interested in pursuing a deal, it was clear once negotiations got underway that Carphone Warehouse offered the best overall future for the staff and customers of altoHiway. I am delighted for everyone at altoHiway that such a satisfactory deal has been achieved.”

Adds Richard Sharpe: “We identified some time ago that to get altoHiway to where we wanted it to be would require a sale. What could easily have been a lengthy and complex process was made quick and easy by Rory and the team at TNP.”

Carphone Warehouse Group plc (London: CPW)