Forthnet

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Forthnet S.A. is a Greek Internet Service Provider established in October 1995 by Minoan Lines SA and the Foundation for Research & Technology - Hellas (Ίδρυμα Τεχνολογίας και Έρευνας, Ι.Τ.Ε).

Forthnet's capital is estimated to €50,000,000 and its shareholders are: Novator Group (38.95%), Foundation for Research & Technology - Hellas (11,70%), Cycladic Catalyst Master Fund (11,94%) and finally Cyrte Investments GP (5,82%). The rest of the available stock is owned by small investors.

On April 14, 2008, Forthnet purchased Netmed, parent firm of NOVA Greece & NOVA Cyprus (DTH satellite providers in Greece & Cyprus).^[1] The transaction is valued at 430 million euros. In 2008 Nova Greece had 350,000 subscribers.^[2]