Further to my prior post on its anticipated triple-play strategy, Sky today announced its first acquisition since its £1bn bond issue. The company has agreed to acquire Easynet, a pan-European broadband ISP for £211m.
The transaction launches Sky into the telecoms business, enabling it to offer a combination of pay TV, telephony and broadband, pitching it against the likes of the soon to be merged NTL and Telewest and Homechoice. It also provides additional competition for BT and firms such as AOL and Wanadoo.
This deal also takes Sky closer to being able to broadcast programmes over the Internet. It'll be intriguing to see their strategy evolve in light of Apple's recent TV content deal as outlined in my post last week.
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