Warburg buys Czech dotcom

Warburg Pincus, a global private equity firm, has announced its second deal of the day, the acquisition of NetCentrum, the second largest internet company in the Czech Republic.

Earlier this morning, Warburg Pincus announced the sale of Loyalty Management Group, creator of the Nectar loyalty card scheme, for £368m (US$754m).

No price was disclosed for the acquisition of NetCentrum. The existing shareholders have rolled over some of their proceeds to take a stake in the new business.

Pavel Mucha, chief executive officer of NetCentrum, said that Warburg’s investment would enable further expansion through Central and Eastern Europe.