Solwise acquired by Scottish telecoms group
HINCKLEY-based telecommunications company Solwise Telephony has been acquired by a Scottish telecoms group in a £500,000 deal.
The Pinnacle Telecom Group has acquired the entire share capital of Solwise along with its subsidiary Sipswitch.
It is hoped the deal will give Solwise Telephony’s 600 customers access to additional leading-edge technology, new products and capability.
Solwise Telephony has spent six years developing the unique Sipswitch telephone system that uses high quality data lines instead of standard BT lines.
All of Solwise Telephony’s employees will be retained to work with Pinnacle on next generation telephony platforms and other business communications systems.
Pinnacle chief executive Alan Bonner said: “We are looking forward to working with the Solwise Telephony team, all of whom are staying with the business post completion. Cross-selling multiple services to our customers is a key feature of our strategy which will be enhanced by this acquisition.”
Solwise Telephony managing director Martin Stephenson said: “The acquisition brings two key benefits to the business; it will expand the company’s range of products to include supporting traditional telephone systems and mobile phone products. In addition the group will find more customers and applications for the new Sipswitch telephone system.
“This is a great move for Solwise Telephony and we look forward to working with Pinnacle. The biggest beneficiaries of this deal will be the group’s customers and we plan to offer them additional and enhanced services.”
Solwise Telephony was established in 1999 as a supplier of discounted line rental and calls.
Over the last two years the company has positioned itself as a national supplier for short-term telephone services to festivals and events ranging from the Chelsea Flower Show to Glastonbury Festival.
