Internet service provider (ISP) Easynet has been bought out by a private equity arm of Lloyds Banking Group. Sky, who up until today owned Easynet will still allow the ISP to access their network.

Easynet's founder, David Rowe said today...

"Our strategy has always been to take a pragmatic approach to the market. We follow our customers, understand their needs and provide solutions that add value," said Rowe. "Our tight focus on our customers will continue under our new ownership."

Daniel Sasaki, a director at Lloyds, said...

"We have made a long-term investment in the company as we believe there is considerable untapped global demand for its unique value proposition,"