SpiriTel acquires ED Communications in acquisition-led growth strategy
Tuesday, August 05, 2008
SpiriTel, the business communications service provider has agreed to acquire ED Communications Ltd, for a total consideration of up to £3.0 million.
Under the terms of the acquisition, SpiriTel has agreed to pay £0.8 million in cash on completion with £0.5 million of deferred payments payable over a two year period. Performance-related earn-out payments of up to £1.7 million are also payable by September 2009 with the maximum consideration payable being £3.0 million.
ED provides a range of network services to over 700 corporate customers. ED's services include: inbound and outbound calls, non geographic numbers, wholesale line rental and broadband.
The purchase of ED is SpiriTel's sixth acquisition in less than two years.
Alastair Mills, Chief Executive of SpiriTel said:
'The ED transaction is another exciting step in our acquisition-led growth strategy. Following a sustained period of organic and acquisition-enhanced growth, SpiriTel has now attained a level of scale that allows us to bolt on acquired companies and swiftly deliver the resulting synergy benefits of cost savings and new sales opportunities. SpiriTel has an excellent track record in effective acquisition integration and we are confident that ED will prove a highly profitable addition to our Business Division.
'In a rapidly consolidating sector, we will continue to pursue this strategy of making selective, earnings enhancing acquisitions that add scale to our operations, expand our customer base and furnish us with the opportunity of organic growth driven by cross selling.'
|
Relevant Companies
For more Company information and share price data click below:
Headlines
» Oil & Gas Round-Up: 5 December
Friday, December 05, 2008
» William Ransom to sell Radian B brand to Thornton & Ross
Friday, December 05, 2008
» Bloomsbury boosts sports publishing expertise with John Wisden & Co buy
Friday, December 05, 2008
» SThree growth strategy pays off with robust full-year figures
Friday, December 05, 2008
» Interim losses at Abbey reflect property market turmoil
Friday, December 05, 2008
» Metal-Tech warns on profits as global markets slump
Friday, December 05, 2008
» Planet Payment launches multi-currency capabilities for customers
Friday, December 05, 2008
» Persian Gold raises new cash to fund Iranian mining project
Thursday, December 04, 2008
» Minmet receives AIM censure on day its shares are cancelled
Thursday, December 04, 2008
» Bond International to help improve head office recruitment at Tesco
Thursday, December 04, 2008
» Aricom slows-up production at Kuranakh project as market prices fall
Thursday, December 04, 2008
» Focus Solutions agrees contract extension with HSBC
Thursday, December 04, 2008
» Japanese patent granted for Axis-Shield rheumatoid arthritis test
Thursday, December 04, 2008
» Silence Therapeutics to make regulatory filing for lead cancer therapy
Thursday, December 04, 2008
» Northern Petroleum secures Netherlands state involvement in Andel III licence
Thursday, December 04, 2008
» Avid’s Electro-mec division slips into administration
Thursday, December 04, 2008
» See all News
Features
» Acquisition trail: Intellego Holdings plc
Friday, November 28, 2008
» Speech recognition: Eckoh plc
Friday, November 21, 2008
» Hunting for oil: GETECH Group plc
Friday, November 14, 2008
» Mobile marketing: HipCricket Inc
Friday, November 07, 2008
» Market maker: GoIndustry-Dovebid plc
Friday, October 31, 2008
» Breathe easy: Verona Pharma plc
Friday, October 24, 2008
» Well connected: Nexus Management plc
Friday, October 17, 2008
» Fine form: Formjet plc
Friday, October 10, 2008
» Interview with Jim Hannon, Hannon Westwood
Friday, October 03, 2008
» Interview with Tim Feather, Hanson Westhouse
Thursday, September 25, 2008
» Interview with Mark Fahy, London Stock Exchange
Tuesday, September 16, 2008
» Healthy return: Source BioScience plc
Friday, September 12, 2008
» Business broker: St Helen’s Capital plc
Friday, September 05, 2008
» Shaw thing: NetDimensions Holdings Ltd
Friday, August 29, 2008
» Complete package: Dowgate Capital plc
Friday, August 22, 2008
» American dream: Caza Oil & Gas, Inc.
Friday, August 15, 2008
» See all Features
Most Read
» Silence Therapeutics to make regulatory filing for lead cancer therapy
Thursday, December 04, 2008
» Japanese patent granted for Axis-Shield rheumatoid arthritis test
Thursday, December 04, 2008
» Minmet receives AIM censure on day its shares are cancelled
Thursday, December 04, 2008
» Persian Gold raises new cash to fund Iranian mining project
Thursday, December 04, 2008
» Northern Petroleum secures Netherlands state involvement in Andel III licence
Thursday, December 04, 2008
» Avid’s Electro-mec division slips into administration
Thursday, December 04, 2008
» Bond International to help improve head office recruitment at Tesco
Thursday, December 04, 2008
» Aricom slows-up production at Kuranakh project as market prices fall
Thursday, December 04, 2008
» Focus Solutions agrees contract extension with HSBC
Thursday, December 04, 2008
» Mwana says BHP Billiton to withdraw from DRC diamond deals
Tuesday, December 02, 2008
» Hydrodec upbeat on expansion progress
Wednesday, December 03, 2008
» Bloomsbury boosts sports publishing expertise with John Wisden & Co buy
Friday, December 05, 2008
» Acquisition trail: Intellego Holdings plc
Friday, November 28, 2008
» Servoca completes security sector acquisitions
Friday, December 07, 2007
» Kurawood hails “break through” with Floors-2-Go orders
Thursday, June 19, 2008
» Oil & Gas Round-Up: 5 December
Friday, December 05, 2008
Profiles
» Short term AIMs for software and IT companies and their route through recession
Wednesday, November 19, 2008
» An introduction to Bango
Monday, November 10, 2008
» Delivering security when budgets are tight
Thursday, November 06, 2008
» So what are you going to do in 2009?
Monday, November 03, 2008
» Well connected: Nexus Management plc
Sunday, November 02, 2008
» Fine form: Formjet plc
Sunday, November 02, 2008
» Shaw thing: NetDimensions Holdings Ltd
Sunday, November 02, 2008
» Back on track: SciSys plc
Sunday, November 02, 2008
» An introduction to SERVICEPower
Friday, October 31, 2008
» Desktops in a virtual world
Friday, October 31, 2008
» PR strategies for technology companies
Friday, October 31, 2008
» AIM - the opportunities for IT and software companies
Friday, October 31, 2008
» The challenge for companies in the IT industry
Thursday, October 30, 2008
|