ISION
| ISION | |
|---|---|
| legal form | Corporation |
| founding | 1998 |
| resolution | 2002 |
| Seat | Hamburg and Kiel , Germany |
| Branch | Service industry |
The ACTIVISION Internet AG was an Internet service provider based in Hamburg and Kiel . At peak times the company had 800 employees and generated sales of almost 100 million euros.
The company was founded in 1998 and was majority owned by Distefora Holding when part of the company was floated on the Frankfurt Neuer Markt in March 2000 . At that time, ISION had around 30,000 business customers, including companies such as Tchibo , Bertelsmann , Spiegel-Verlag and Tomorrow-Focus AG. The company had its own backbone with over 200 dial-in nodes and a nationwide network in Germany, Austria and Great Britain. In December of the same year, ISION was taken over by its British competitor Energis for a total of 812 million euros .
In March 2002, an impending bankruptcy was averted by a binding commitment from the parent company Energis, but just one month later Energis stopped financing and ISION went bankrupt. The Hamburg data center and 115 employees of the company were taken over by the London company Easynet in the summer for a price of 3.4 million euros .
The British Energis later made allegations that the price had been artificially driven up before the takeover by making bogus sales of more than 10 million euros. The major shareholder of Distefora Holding, Alexander Falk , was charged by name and sentenced to four years in prison for attempted fraud and falsification of accounts.
The company's shares were still tradable thirteen years after the bankruptcy, and the listing was discontinued in September 2015.
Individual evidence
- ↑ ISION Internet AG files for insolvency. German Society for Ad Hoc Publicity , September 2, 2002, accessed April 6, 2015 .
- ↑ Heise online: Easynet buys Ision
- ↑ Announcement: discontinuation / delisting with effect from / effective from: September 24, 2015. Börse Berlin , September 24, 2015, accessed on October 7, 2015 .