24th Nov 2015 10:45
LONDON (Alliance News) - Satellite Solutions Worldwide Group PLC on Tuesday said it has acquired the 3,500 customers and assets of Vertical Connect, a provider of satellite broadband services in France, for EUR1.1 million.
The acquisition is the communications company's fourth since listing on AIM in May, and will give it a total of 24,000 customers.
Vertical Connect's customers and assets, along with seven staff, will move into a new SSW Group Company called Europasat France, where it will sit along with other French acquisitions and existing customers in the country.
Satellite Solutions Worldwide said it is now the second largest satellite broadband provider in France with over 10,000 subscribers.
"Following our recent acquisition of Sat2Way in France, we are confident we will see good operational efficiencies and be able to accelerate sales growth in France," Chief Executive Andrew Walwyn said in a statement.
Shares in Satellite Solutions Worldwide were up 0.5% at 4.02 pence on Tuesday morning.
By Samuel Agini; [email protected]; @samuelagini
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