Cash injection will boost company’s growth
TELECOMMUNICATIONS company TeleWare Group is aiming to increase turnover to £10m following a funding injection from Bank of Scotland Corporate.
The Thirsk-based firm is planning to roll out its Private Mobile Network technology across the country which it believes will see it increase turnover from £7m to £10m within two years.
The move follows the company's recent move to package its telephony switching and other applications and deliver them on a monthly pay-as-you-go basis through its subsidiary, TT Office, which was launched last October.
TeleWare Group employs around 100 people at its North Yorkshire headquarters and provides communications applications to businesses of all sizes.
Private Mobile Network provides Global System for Mobile (GSM) applications which extend mobile coverage and enable the use of mobile phones in private networks without incurring mobile operator call charges.
Simon Middleton, associate director at Bank of Scotland Corporate in York, said: “TeleWare is at the forefront of providing intelligent communications solutions and boasts an outstanding track record with its current customer base. I have no doubt that their move into the small and mid-market will prove just as successful.”
Steve Haworth, chief executive of TeleWare Group, said: “Our new technology has already secured an entrepreneurial award and we are now looking
forward to using our solutions in order to compete in new markets and grow the business. Working with Bank of Scotland provides us with the support to move these plans forward.”
