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02 May 2007
IP telephony distributor Vcomm has agreed to be acquired by Voice over IP services firm Coms plc in a deal worth £100,000, ending weeks of channel speculation.
Coms, which listed on the Alternative Investment Market in October, will initially issue Vcomm 13.3 million shares at 0.75 pence each.
The distributor, which counts VegaStream, Extricom, Ingate and Expand Networks among its main vendor partners, will receive another 13.3 million shares in Coms after a year if it achieves “considerable growth” and pre-set profit targets.
Scott Dobson, managing director at Vcomm, said: “Our acquisition by Coms gives me and my team the financial resources, increased management capabilities and other synergistic benefits to undertake larger distributor contracts and to rapidly build market share.”
Jason Drummond, executive chairman of Coms, said: “The acquisition of Vcomm,
following on from the recent acquisition of ExchangeXT is a further component of
our strategy to build a leading provider of paid VoIP services and enabling
technology to individuals and businesses.”
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