Elite hungry for more after XL deal

LANCASHIRE business telecoms provider Elite Telecom has splashed out £700,000 to buy the assets of XL Networks.

The deal for the VOIP (Voice Over Internet Protocol) specialist will add more than 800 new customers and boost revenue at the Chorley-based firm by £1.2m to more than £18m.

Elite, which was founded in 2000 by chief executive Matt Newing, supplies major corporates including Air France, Intercontinental Hotels and a host of Premier League football clubs.
 

Newing said he would like to do more deals, and is ‘quietly hopeful’ that this is the first step in a more expansive phase of growth and acquisition activity.

He said: “We have been able to maintain and strengthen our market position despite the economic downturn. 

“Our strategy has been to achieve organic expansion through innovation that keeps us ahead of the game, while being able to identify and respond nimbly to positive acquisition opportunities.

“This latest deal reflects our ambitions and will help to solidify our prominence in the business telecoms industry and we are quietly hopeful that it won’t be the last in the near future. Alongside this activity, we are constantly aiming to stay on the cusp of development by ascertaining brand new services to offer our new and established client base.

“It also presents an opportunity for us to raise awareness of our bespoke products and services, such as Elite IQ, a sophisticated call queuing system that reduces waiting times by allowing callers to hang up and call back at an allocated time when they will be placed at the front of the queue.”

Elite Telecom is the only telecoms company to appear three times in the prestigious Sunday Times Tech Track 100.
The company was represented in the deal by corporate law firm DWF.