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12 Feb 2010
Comments:2
Telephony reseller SpiriTel has tied up its tenth acquisition since 2006 as it ploughs on with its " acquire, integrate and grow" strategy.
Alternative Investment Market (AIM)-listed SpiriTel has laid down £2.15m for mobile voice and data reseller Mobotel, its second purchase of 2010.
Up to a further £1m will be paid out if BlackBerry specialist Mobotel meets “rigorous” growth targets over the next two years.
Further reading
SpiriTel said the acquisition would offer it an opportunity to slingshot voice and data services and IP telephony systems into Mobotel’s customer base of legal and financial services firms.
Fulham-based Mobotel banked a pre-tax profit of £0.3m on modest revenue of £2.1m in its last financial year but SpiriTel chief executive Alastair Mills stressed the firm had a high-value customer base.
“The customer base is particularly attractive in that most connections are BlackBerry and the ARPU [average revenue per user] is well above the industry average,” he said.
Richard Smith, managing director of Mobotel, said: “SpiriTel is recognised as a leading provider of converged communications to business customers and, having worked hard to develop market-leading mobile services, we are looking forward to offering our customers an expanded, integrated product set as part of SpiriTel's business division.”
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Do you agree?
Deluded Spiritel
John - you seem to have hit the nail on the head. The cross sales approach that spiritel have taken seems to have born little or no fruit and endless press releases can only cover for so long. The bubble will burst and soon I think. Queue another acquisition for Daisy perhaps and Spiritel does have some good assets.
Posted by Peter Dewhurst | 14 Jun 2010
Deluded Spiritel
Spiritel are doing exactly the same thing Redstone were doing back in 2006-2008, going out purchasing companies with little or no understanding how it will be adding any value to the overall business, a brilliant way of massaging figures for end of year reporting. Classic short term strategy to keep investors happy.
Posted by John Turner | 25 Mar 2010
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