History
Colt was founded in 1992 by Jim Hynes with funds provided by Fidelity Investments as City Of London Telecommunications. The company began to construct a telecoms network in London. In 1993 it was awarded a licence to compete with British Telecom and Cable and Wireless in voice and data transmission. It was first listed on the London Stock Exchange in 1996. The group later expanded into Europe, building networks in major European cities over the next 10 years. In 2001 Fidelity Investments helped the Company to raise a further £400m to finance its future activities. In 2005 the company reached its first year of positive cash flow, and in 2007 its first year of profit. In April 2009 Colt completed an Open Offer raising €199.1m (including a €9.7m foreign exchange gain) before expenses with the issue of 211.0 million shares.In 2010 Colt rebranded from COLT Telecom to Colt Technology Services, deleting the acronym City of London Telecommunications to reflect its paneuropean nature. The company now describes itself as an ‘information delivery platform’ rather than simply a telecommunications company, reflecting its provision of integrated computer and network services. In May 2011 Colt acquired a majority shareholding in MarketPrizm, a provider of low latency market data and trading infrastructure services.
Read more about this topic: Colt Group S.A.
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