Asia Online finds a buyer

Failed ISP Asia Online has been bought, reportedly by Dresden Equities, a holding company which already owns several ISPs throughout New Zealand.

Failed ISP Asia Online has been bought, reportedly by Dresden Equities, a holding company which already owns several ISPs throughout New Zealand.

Asia Online, which was placed in voluntary liquidation late last week, will join Ezysurf, Esurf and the Virtual ISP as part of the stable, owned by Michael Spencer and his family.

The existing Asia Online staff will keep their jobs in the short term.

Asia Online was placed in voluntary liquidation on Thursday after its US parent company refused to fund the ISP any further. The Australian arm of the operation was placed in "administration" and Australian customers are being re-directed to competing ISP OzEmail where they are being told that OzEmail has scored the exclusive rights to mail forwarding for Asia Online customers, virtually locking in customers who wish to retain their existing email address.

The Hong Kong office has also closed its doors - Hong Kong was the head office for the chain of ISPs which ran right across South East Asia.

It has not been revealed how much Dresden paid for Asia Online.

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