Type Subsidiary Website www.thus.net Number of employees 1,700 (2009) Founded 1999 | Industry Telecommunications Headquarters Glasgow, United Kingdom Founder Rod Matthews | |
Subsidiaries Demon Internet, THUS Limited, Your Communications Ltd., Legend Communications plc Parent organizations Vodafone, Cable & Wireless Worldwide | ||
Thus was a telecommunications provider operating in the United Kingdom. The company was once listed on the London Stock Exchange and was a subsidiary of Cable & Wireless Worldwide (CWW). Following the acquisition of Cable & Wireless Worldwide by Vodafone in July 2012, Thus was gradually integrated into Vodafone. This was completed on 1 April 2013.
Contents
History
The company began life in 1994 as Scottish Power Telecommunications Holdings Ltd (trading as Scottish Telecom), an offshoot of the privatised energy company Scottish Power. In 1998 the company acquired Demon Internet. Rod Matthews, who had founded the business, remained as Chief Executive until 1999.
In 2002 it was demerged from Scottish Power under the name Thus in a deal which effectively wiped out the majority of the company's debts, placing the company on a sound financial footing.
In August 2004 it sold its call centre operation to Response Handling Ltd and in 2006 it acquired Your Communications and Legend Communications.
On 28 May 2008 Cable & Wireless plc announced their intention to purchase the company with an offer of 165p per share: this first offer was rejected on 6 June 2008. On 30 June 2008, Cable & Wireless announced that it had acquired a 29.9% stake in Thus and tabled an improved offer of £329 million, or 180p per share. On 1 October 2008, Cable & Wireless completed the takeover of Thus: the company became known as "Thus, a Cable & Wireless business".
Operations
The company supplied some services (most notably Internet services) to home users. Many of its major customers, which included its former owner Scottish Power and Southern Water (which was also once a Scottish Power subsidiary), as well as Glasgow City Council, BSkyB and HSBC had their business transferred to Cable & Wireless Worldwide.
As an alternative telco in the UK, THUS was often involved, either alone or in conjunction with other telcos, in complaints made to the UK regulator Ofcom about alleged monopolistic practices of BT.