Elite Telecoms goes shopping in London
TELECOMS company Elite Telecom has completed a deal to buy London-based Liquid Business Services.
Chorley-based Elite said the deal would add around £1.9m to its sales and around 450 new customers.
Liquid Business Services specialises in Voice Over Internet Protocol (VOIP) systems, and Elite said the deal would allow its own customers to take advantage of the company’s superior cloud computing systems, which offers services such as virtualised desktops.
Chief executive Matt Newing, who announced earlier this year that the business has a £5m acquisition pot, said this latest deal represents a further step in Elite’s growth strategy following the asset purchase of Cardiff-based XL Networks in July.
He said: “Expansion and growth have always been at the heart of our business plan from day one and this latest acquisition will give us a great chance to bring together the best that both Elite and Liquid have to offer.
“Establishing a London city foothold within the telecoms market is also key to our future acquisition strategy and we’ll be looking for further opportunities in the areas of cloud hosting, VOIP and data services.”
Last week, Elite Telecom features on the Sunday Times Tech Track list of fastest-growing companies with sales of £17.4m. The company was advised on its latest deal by law firm DWF.
