| Thus Ltd. | |
| Type: | Subsidiary |
| Foundation: | 1994 (as Scottish Power Telecommunications Holdings Ltd) |
| Location: | Glasgow, Scotland, UK |
| Industry: | Telecommunications |
| Num Employees: | 1,700 (2009) |
| Parent: | Vodafone |
Thus was a telecommunications provider operating in the United Kingdom based in Glasgow, Scotland. The company was once listed on the London Stock Exchange and became a subsidiary of Cable & Wireless Worldwide (CWW). Following the acquisition of Cable & Wireless Worldwide by Vodafone in July 2012, the company was gradually integrated into Vodafone. This was completed on 1 April 2013.[1]
The company was founded in 1994 as Scottish Power Telecommunications Holdings Ltd (trading as Scottish Telecom), an offshoot of the energy company ScottishPower. In 1998 the company acquired Demon Internet.[2] Rod Matthews, who had founded the business, remained as Chief Executive until 1999.[3] On 4 October 1999 Scottish Telecom announced their new name "thus".[4]
A short while later in 1999, the newly named Thus PLC listed on the London Stock Exchange.[5] In 2002 it was demerged from Scottish Power in a deal which effectively wiped out the majority of the company's debts, placing the company on a sound financial footing.[6]
In August 2004 it sold its call centre operation to Response Handling Ltd and in 2006 it acquired Your Communications and Legend Communications.[7] [8]
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.[9] 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.[10] On 1 October 2008, Cable & Wireless completed the takeover of Thus: the company became known as "Thus, a Cable & Wireless business".[11]
The company supplied some services (most notably Internet services) to small businesses. Many of its major customers had their business transferred to Cable & Wireless Worldwide.[11]