10th May 2016 06:49
LONDON (Alliance News) - Telecommunications services provider AdEPT Telecom PLC on Tuesday said it has signed a deal to acquire Comms Group UK Ltd in a deal worth up to GBP7.0 million.
AdEPT will pay GBP3.5 million upfront to acquire Comms, plus a further GBP3.5 million dependent on the trading performance of Comms post-completion.
Comms provides unified communications, IT and managed services and has a "highly complementary" product set to AdEPT, the company said. For the year to the end of March 2015, Comms made a GBP400,000 pretax profit on revenue of GBP3.3 million.
"Comms Group is an excellent fit because, like AdEPT, it is asset-light, complements and builds upon AdEPT's existing expertise and skills, particularly within the Avaya product set, and further extends its offering in the unified communications space through the addition of IT services," said AdEPT Chief Executive Ian Fishwick.
"Following the acquisition, AdEPT is now in a position to provide a complete unified communications offering which can address the whole of the market, from small customers right through to very large enterprise clients," he added.
By Sam Unsted; [email protected]; @SamUAtAlliance
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