Energy utility SAK acquires Internet service provider iWay
St.Gallisch-Appenzellische Kraftwerke AG (SAK) and Internet service provider iWay AG are closing ranks: SAK is acquiring 100 percent of iWay's shares with retroactive effect from January 1, 2017. The management of iWay and all employees remain on board.
SAK, an energy supply company (EVU) in eastern Switzerland, has also been successfully involved in the field of digital technologies for several years. What began in 2010 with the construction of the fiber optic infrastructure in the directly supplied area, experienced a further highlight in 2014 with the launch of its own services. During the evaluation process, SAK chose iWay as its subcontractor at that time. Since then, the two companies have been working closely together and continuously developing SAK's communication services. Today, in addition to a wealth of experience, the companies are linked by a trusting partnership.
Optimally positioned for digital markets
As an Internet Service Provider (ISP), iWay is a well-known name in the Swiss market and provides individual services at a high level of quality. This recipe for success will not change with the takeover, as both the strategic orientation and the organization of iWay will be continued. iWay will remain independent and, with SAK, will have a strong energy supply company as a partner - a valuable basis for developing future offerings even closer to the pulse of market needs. iWay's management and all employees will remain on board. Matthias Oswald, founder and managing director of iWay, says: "The ongoing digitalization offers enormous opportunities, but also continues to develop at a rapid pace. Knowing this, I wanted to take succession planning in hand at an early stage. We have enjoyed a trusting partnership with SAK for several years. I am therefore very pleased about our joining forces."
Close partnership
The two partners complement each other perfectly. While iWay has been active in the national ISP business for more than 20 years and develops digital services, SAK is continuously expanding its fiber optic network. The alliance will now bundle strengths and expertise. As Andreas Schwizer, Head of SAKnet, puts it: "Together we are even closer to the market and can respond quickly to constantly changing customer needs by launching new products. The purchase is retroactive to January 1, 2017. The parties have agreed not to disclose the purchase price.
