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This one, perhaps? https://www.lowendtalk.com/discussion/172365/important-changes-at-spearware-networks/p1
I’ve had (and still have) services from NexusBytes & SmallWeb, both have been great.
Glad to see the company in good hands
Yes, Michael Spears (formerly Spears Network) announced the sale of his Canadian VPS Services before the sale had closed. After closer inspection, the buyer backed out leaving mud on the face of Michael.
Agreed that this desire by some for early announcements of acquisitions is unrealistic in the private business world were the sales must remain private until closing to protect/secure the sale.
@seriesn will the renewal prices/promotional rate be kept as it's ? For Shared and Mxroute email. This is very important to me to know.
... and in such scenario, customers are like sheep, unknowingly being sold from one shepherd to the next.
With this in mind, here is another example, where customers are actually informed beforehand about a potential acquisition: https://www.kbc.ie/w/kbc-bank-ireland-enters-into-a-memorandum-of-understanding-with-bank-of-ireland-group
As you should know, banks and public companies are under a completely different regulatory scheme than small, private companies. Maybe in Ireland banks are required to reveal this information. I doubt they're doing it purely out of the goodness of their heart.
For private companies, issuing a press release to reveal that they are thinking about a potential future transaction would serve no useful purpose.
NexusBytes has repeatedly made it clear on LET that they are interested in buying hosting companies. Should they publicly announce every time they open confidential discussions with another provider?
First you argue that no notification was given in this case, which is plainly false. And now you imply that customers need to be kept up to date about any possible acquisition throughout the process -- before it has even closed. Should customers also be given the right to vote on the deal?
Customers are not sheep. They can leave as soon as their contract terms allow. Companies have the same right of termination.
When you make a contract with a hosting company, it contains no promise that the company management and owners will stay the same.
Dude, calm your tits. Stop putting words in my keyboard. I did not imply anything. And the notice received was on the same day it took effect. That was not a notice in advance. If you are fine with receiving "notification" like this, fine. I hope your bank will increase your mortgage and notify you on the same day too, because you seem very happy with things changing this way. But I AM NOT, because I prefer courtesy and honesty and dignity. I do not like to be notified of sales after they happen, being sold in secrecy, considered as some listening sheep, or some top-secret asset.
I respect your decision to accept things. I can not (and will not) comment on what you like. Agree to disagree.
Anyone who is still trying waiting for a why we didn’t send a pre merger notification, I will let you know on Monday ™️
Generally it's just public companies that notify the markets before a sale is agreed and concrete. E.g. AMD and Xilinx.
Private companies will usually keep it under wraps - often NDA - until the sale is agreed and concrete. Regulations and expectations are completely different (less strict) for private companies Vs public. It is unreasonable to expect advance notification before a sale is considered or agreed.
A happy middle ground is to announce after it is set in stone, but before the transfer happens. It sounds like that's what was intended here, but didn't happen (for some customers) due to some issue with their email system.
Naturally as with any major alternation to your contract you'll be eligible to quit without any exit fees assuming you're an EU or UK citizen.
I hope that's the only thing that you copy from HS.
I don’t think any reasonable person would expect to be informed about a merger/acquisition related to a non-regulated business (banks, insurance providers, etc.) prior to the acquisition.
However, there may be a case regarding notification of transfer of personal data to a non-UK company under the UK GDPR depending on any data transferred and the continued protection of such data.
It doesn't matter what I prefer or what I like. My point is that your expectations simply don't match with reality, so you're destined to be frustrated with what happens in the business world.
"Secrecy" is normal and expected. "Notification in advance" is not. And clients, not "sheep," can vote with their dollars.
@seriesn is a good, standup dude.
From what I've gathered: An oversight occurred, something unfortunate happened, and a solution was created that seemingly has satisfied most who were impacted.
I think if the brand was going to change and customers would be effected then notice is required but as the brand is remaining the same then I don't really see the issue.
Did every Amazon customer get a personal email to say Bezos has left the building?
No....
I guess you prefer to be referred to as a snowflake. You think you're all kinds of special. Sometimes, I think you're still in some sort of adolescent stage you never exited from. Or, you live some sort of sheltered life with blinders on.
My bank did, too, because we're all shareholders and legally required.
Thank you for making me feel young again. I appreciate it.
Congratulations
Every living creature deserves more, than just to sell cheap web hosting. Congrats on successful escape @MichaelCee