Vanco 2497810 217867605 2008-06-08T01:53:28Z 68.41.42.121 {{Infobox Company | company_name = Vanco PLC | company_logo = [[Image:Vanco.gif|150px|The official Vanco logo]] | company_type = [[Public company|Public]] ({{lse|VAN}}) | foundation = 1988 | location = [[Isleworth]], [[Middlesex]] | origins = | key_people = CEO - Mark Thompson Non-exec Chairman - Prof Dr Thomas Wolf | area_served = | industry = [[Telecommunications]] | products = Retail and Wholesale local, national and international telecommunications services, Broadband and internet products and services, IT and Network Solutions | revenue = £231 million [[GBP]] ([[2005]]) | operating_income = | net_income = | num_employees = 750 | parent = | subsid = (see list below) | homepage = [http://www.vanco.co.uk/ www.vanco.co.uk] | footnotes = }} '''Vanco plc''' is a [[United Kingdom|British]] [[telecommunication]]s company. It is a [[Virtual Network Operator]], owning no network infrastructure itself, but providing management services and reselling network from other telecommunications suppliers. It can also be described as a [[value network|VANS (Value-Added Network Supplier)]], where the 'value-add' is the design, provision, and management of multiple third-party networks for customers. They operate and offer service in 230 countries and territories in the world, as well as manage networks for clients in 152 countries. Vanco has currently had its shares suspended pending a financial review which may lead to substantial restatement of its current and prior years accounts.<ref>[http://www.telegraph.co.uk/money/main.jhtml?view=DETAILS&grid=&xml=/money/2008/05/07/cnvanco207.xml Vanco shares suspended as doubts raised over financing - Telegraph<!-- Bot generated title -->]</ref>. It was taken over by the Indian company, [[Reliance Anil Dhirubhai Ambani Group]] (ADAG) on May 27th, 2008.<ref>[http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/05/26/cnvanco126.xml Reliance wins race to purchase Vanco - Telegraph<!-- Bot generated title -->]</ref> ==Businesses== Vanco Group Limited is organized into the following subsidiary undertakings: {| class="wikitable" ! Name of subsidiary ! Location |- |Vanco UK Limited |England |- |Vanco International Limited |England |- |Vanco Consulting Limited |England |- |Vanco Global Limited |England |- |Vanco ROW Limited |England |- |Vanco e-Business Limited |England |- |Vanco GmbH |Germany |- |Vanco Deutschland GmbH |Germany |- |Vanco SAS |France |- |Vanco BV |Holland |- |Vanco Euronet Srl |Italy |- |Vanco Euronet EpE |Greece |- |Vanco ApS |Denmark |- |Vanco Euronet Sro |Czech Republic |- |Vanco Asia Pacific Pte Limited |Singapore |- |Vanco US LLC |United States |- |Vanco Australasia Pty Limited |Australia |- |Vanco NV |Belgium |- |Vanco Sweden AB |Sweden |- |Vanco South America Ltda |Brazil |- |Vanco Euronet Sp Zoo |Poland |- |Vanco Direct USA LLC <sup>1</sup> |United States |- |Vanco Switzerland AG <sup>2</sup> |Switzerland |- |Vanco (Jersey) Limited <sup>3</sup> |Jersey |- |Vanco (Shanghai) Co., Ltd <sup>4</sup> |China |- |Vanco Benelux BV |Holland |- |} Notes: *<sup>1</sup> - incorporated 3 February 2005 *<sup>2</sup> - incorporated 6 April 2005 *<sup>3</sup> - incorporated 22 September 2005 *<sup>4</sup> - incorporated 1 September 2005 ==History of Vanco== *1988 - Vanco exists as an unsuccessful data services company. It is purchased by the current [[CEO]], Allen Timpany, for £1 with the intention of taking advantage of the newly de-regulated telecommunications market. *1989 - Vanco no longer operates within bureau services and, instead, begins operation in the provisioning of managed data networks. Their first client is Leamington Spa Building Society in [[London]]. *1990 - Significant new clients help a turnover of £2 million for Vanco to move out of debt and plan a major re-investment for future growth. *1991/1992 - Vanco carries out the migration of its backbone from X25 and TDM to a single operating system that results in a great cost savings for the company and its clients. *1993 - The first non-UK office is established in [[Madrid]], [[Spain]]. *1994 - Vanco opens an office up in [[Amsterdam]], [[Netherlands]]. *1995 - Vanco opens an office up in [[Germany]]. Vanco adopts [[Cisco]] as the network industry equipment standard. *1996 - Vanco reports profits in excess of £1 million for the first time in the history of the company, on turnover of over £8 million. Company headquarters are relocated to new offices in [[Isleworth]], [[Middlesex]], [[England]]. *1997 - Vanco establishes an [[e-Business]] division, as well as an office in [[New York]] in the [[United States]]. Vanco is voted [[Wide area network|Wide Area Network]] [[Outsourcing|Outsourcer]] of the Year by the [[National Outsourcing Association]] <ref>[http://www.vanco.com/CMAN/2D302D2329 Industry success for Vanco, the pioneering Virtual Network Operator (VNO)<!-- Bot generated title -->]</ref>. *1998/1999 - Vanco is recognized as one of the fastest growing companies in the UK, and is included in the [[Deloitte Touche Tohmatsu|Deloitte & Touche]] "Hot 100" ([http://www.vanco.com/CMAN/2D302D2329]). Vanco also establishes its e-Security division and moves its operations outside the continental Europe into North Africa and Asia Pacific, and introduces zero-downtime Cascade technology into its network backbone. Vanco is once again voted Wide Area Network Outsourcer of the Year by the [[NOA]] <ref>[http://www.vanco.com/CMAN/2D302D2329 Industry success for Vanco, the pioneering Virtual Network Operator (VNO)<!-- Bot generated title -->]</ref>. *2000 - Vanco sees record profits of £2.9 million and earns a place amongst the Hot 500 Global growth IT companies <ref>[http://www.vanco.com/CMAN/2D302D2329 Industry success for Vanco, the pioneering Virtual Network Operator (VNO)<!-- Bot generated title -->]</ref>. Vanco is also voted as Network Outsourcer of the Year at the Network Industry Awards <ref>[http://www.vanco.com/CMAN/2D302D2329 Industry success for Vanco, the pioneering Virtual Network Operator (VNO)<!-- Bot generated title -->]</ref>. *2001 - Vanco is successfully listed on the main market of the [[London Stock Exchange]]. Significant client listings contribute to another year of financial growth, with revenue up 43.6% and profits up to £3.1 million. Vanco is recognized by the [[The Sunday Times (UK)|Sunday Times]] as one of the top 100 fastest growing profitable companies in the UK <ref>[http://www.vanco.com/CMAN/2D302D2329 Industry success for Vanco, the pioneering Virtual Network Operator (VNO)<!-- Bot generated title -->]</ref>. Vanco is also voted as European Communications Service Provider of the Year at the [[Institute of Sales Promotion|ISP]] Awards <ref>[http://www.vanco.com/CMAN/2D302D2329 Industry success for Vanco, the pioneering Virtual Network Operator (VNO)<!-- Bot generated title -->]</ref>. *2002 - Vanco confirms a 15-year record of uninterrupted revenue growth. Turnover is up 43% while contracted revenue was up 93.3% to £132 million. Vanco sees significant (30% increase) investment in staff recruitment and development, as well as the launch of ''v:choice'', the world's first global flexible benefits scheme <ref>[http://www.foodanddrinkeurope.com/news/printNewsBis.asp?id=14511 UB goes virtual<!-- Bot generated title -->]</ref><ref>[http://www.vanco.com/CMAN/2D302D2329 Industry success for Vanco, the pioneering Virtual Network Operator (VNO)<!-- Bot generated title -->]</ref>. Global service availability is extended to 230 countries and territories, and new customer service initiatives include ''O-zone'', which Vanco claimed to be the industry's most advanced online network services portal <ref>[http://www.foodanddrinkeurope.com/news/printNewsBis.asp?id=14511 UB goes virtual<!-- Bot generated title -->]</ref><ref>[http://www.vanco.com/CMAN/2D302D2329 Industry success for Vanco, the pioneering Virtual Network Operator (VNO)<!-- Bot generated title -->]</ref>. *2003 - Vanco increases the number of countries with managed solutions to 83. Vanco is recognized as "Outsourcer of the Year" by Computing <ref>[http://www.computing.co.uk/ Computer news, information technology blogs and jobs at Computing – hardware software security internet communications<!-- Bot generated title -->]</ref><ref>[http://www.vanco.com/CMAN/2D302D2329 Industry success for Vanco, the pioneering Virtual Network Operator (VNO)<!-- Bot generated title -->]</ref><ref>[http://www.vanco.com/PREL/2D2003 Vanco - Press Releases 2003<!-- Bot generated title -->]</ref> and "Service Provider of the Year" by the Networking Industry Awards <ref>[http://www.vanco.com/CMAN/2D302D2329 Industry success for Vanco, the pioneering Virtual Network Operator (VNO)<!-- Bot generated title -->]</ref><ref>[http://www.vanco.com/PREL/2D2003 Vanco - Press Releases 2003<!-- Bot generated title -->]</ref>. The World Communication Awards highly commends Vanco's customer service. Profit is reported up 490% to £5.5 million, with turnover up 45.5% to £76.8 million. Vanco also releases its [[Multiprotocol Label Switching|MPLS]] Matrix solution <ref>[http://www.vanco.com/PREL/2D2003 Vanco - Press Releases 2003<!-- Bot generated title -->]</ref>, enabling multi-carrier networks based on MPLS to be managed as a single entity. *2004 - Financial results represent the 17th consecutive year of strong profitable growth, with turnover up 35.4% to £104 million, and operating profit up by 99.8% to £11.1 million. Vanco now has customers in 142 countries globally. Vanco is placed on the Leader's Quadrant of the Gartner Magic Quadrant for Network Service Providers in Europe <ref>[http://www.vanco.com/CMAN/2D302D2329 Industry success for Vanco, the pioneering Virtual Network Operator (VNO)<!-- Bot generated title -->]</ref><ref>[http://www.vanco.com/PREL/2D2004 Vanco - Press Releases 2004<!-- Bot generated title -->]</ref> - the only VNO amongst four asset-based carriers. Vanco is again voted "Best Service Provider of the Year" at the 2004 Networking Industry Awards <ref>[http://www.vanco.com/CMAN/2D302D2329 Industry success for Vanco, the pioneering Virtual Network Operator (VNO)<!-- Bot generated title -->]</ref><ref>[http://www.vanco.com/PREL/2D2004 Vanco - Press Releases 2004<!-- Bot generated title -->]</ref>, and is listed in the "100 Best Under a Billion" with [[Forbes|Forbes magazine]] <ref>[http://www.vanco.com/CMAN/2D302D2329 Industry success for Vanco, the pioneering Virtual Network Operator (VNO)<!-- Bot generated title -->]</ref><ref>[http://www.vanco.com/PREL/2D2004 Vanco - Press Releases 2004<!-- Bot generated title -->]</ref>. For the 2nd year in succession, Vanco is listed in the Deloitte Technology EMEA Fast 500 <ref>[http://www.vanco.com/CMAN/2D302D2329 Industry success for Vanco, the pioneering Virtual Network Operator (VNO)<!-- Bot generated title -->]</ref><ref>[http://www.vanco.com/PREL/2D2004 Vanco - Press Releases 2004<!-- Bot generated title -->]</ref>, and in Australia and Asia, Vanco is listed as the year's "MIS Rising Stars 25" <ref>[http://www.vanco.com/CMAN/2D302D2329 Industry success for Vanco, the pioneering Virtual Network Operator (VNO)<!-- Bot generated title -->]</ref><ref>[http://www.vanco.com/PREL/2D2004 Vanco - Press Releases 2004<!-- Bot generated title -->]</ref>. *2005 - Vanco purchases a telecommunications company named ''Universal Access'' that is situated in downtown [[Chicago]], [[Illinois]] in the [[United States]] <ref>[http://www.vanco.com/PREL/2D2005 Vanco - Press Releases 2005<!-- Bot generated title -->]</ref>. Universal Access had undergone a [[bankruptcy]] in early 2005 and had started to [[liquidate]] its assets and was unable to continue because of its debt load. With the purchase of Universal Access, Vanco gains the opportunity of working with [[Data link layer|layer 1]] and [[Data link layer|layer 3]] access within the United States, as well as further expanding its presence in the United States. [[Image:Vanco_NetDirect.jpg|150px|Official logo of Vanco NetDirect]] *October, 2006 - Vanco announces the release of Vanco NetDirect, an online portal that enables a user to "design, build and sell national and international network solutions for... enterprise customers in extended geographies, outside of... physical network footprint, using a range of technology solutions" <ref>http://direct.vanconetdirect.com/portal/page/portal/Vanco</ref>. NetDirect also allows a user to "more easily design and build out... physical network based upon... network development strategy. <ref>http://direct.vanconetdirect.com/portal/page/portal/Vanco</ref>. NetDirect is described as "a network infrastructure of MPLS, DIA/DSL and Private Line services across the US and in over 200 countries globally... created using asset based carriers... to create... network designs and find near real-time pricing and turn-key fulfilment for Private Line, MPLS and DIA solutions" <ref>http://direct.vanconetdirect.com/portal/page/portal/Vanco</ref>. *May, 2008 - Vanco announces the resignation of the founder and CEO, Allen Timpany, as well as the appointment of Andrew Coppel as the Chief Restructuring Officer by the board. Vanco's shares are suspended for trading on the London Stock Exchange while the financial information is being assessed<ref>[http://business.timesonline.co.uk/tol/business/industry_sectors/telecoms/article3908403.ece Vanco’s race ace spins out of control - Times Online<!-- Bot generated title -->]</ref>. Recent announcements include Vanco being purchased by India-based [[Reliance Communications]]. <ref>[http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/05/26/cnvanco126.xml Reliance wins race to purchase Vanco - Telegraph<!-- Bot generated title -->]</ref> ==Financial performance== {| class="wikitable" ! Year ended ! Turnover (£m) ! Profit/(loss) before tax (£m) ! Net profit/(loss) (£m) ! Basic [[earnings per share|eps]] (p) |- | [[31 January]] 2006 | 104.0 | 11.032 | 7.506 | 13.30 |- | [[31 January]] 2005 | 146.6 | 8.538 | 5.915 | 10.99 |- |} ==Data== *[http://finance.yahoo.com/q?s=VAN.L Yahoo! Finance - Vanco information] ==References== {{Reflist}} ==External links== * [http://www.vanco.com Vanco corporate homepage] * [https://p2.vanconetdirect.com/net.usx.portal/usx/login.aspx Vanco NetDirect homepage] [[Category:Companies listed on the London Stock Exchange]] [[Category:Telecommunication companies of the United Kingdom]] [[Category:Telecommunications companies of the United States]] [[Category:Companies based in London]] [[Category:Companies established in 1988]]