NTL networks Workplace

U.K. cabler buying data management co. for $130 mil

By ERICH BOEHM

LONDON -- NTL, the acquisitive U.K. cabler, is buying Workplace Technologies, a British data network management company, for £81 million ($130 million).

Part of the deal entails NTL assuming $32 million in debt.

NTL has an existing relationship with Workplace. The takeover will aid NTL's plans to introduce new services to compete with giant telco British Telecom.

An NTL spokesperson described the deal as "another string in the bow" for NTL's long-term strategy.