Acquisitive comms provider Chess Telecom claims its buyout of Intelligent Networks' (INW) customer base will add £1m to its top line.
INW is based in Sandbach, Cheshire, a few short miles from Chess's HQ in Alderley Edge. It has become the comms firm's 47th acquisition in the last six years.
Acquisitions of customer bases, rather than entire companies, have become commonplace in the last couple of years, as the firm has looked to build scale quickly.
In its recently published financial results, Chess's sales for the year to 30 April grew 13 per cent annually to £29.1m. Director Richard Btesh indicated his firm's spending spree would continue.
"Our acquisition list continues to grow through 2010," he said. "Continued market consolidation and our reputation ensures we are able to maximise our potential."
INW director Tim Mears claimed Chess's acquisitive history had made it the obvious choice to sell up to.
"Chess has a proven track record of making successful acquisitions so it seemed only natural that we approach it first” he said. “It was clear early on that this flexible deal would give the best value for us, and more importantly, be a great choice for our customers.”
Paul Billingham, director of Knight Corporate Finance, advised INW on the deal. He added: "Chess was ideally placed to acquire the INW base and both parties are delighted with the transaction.”
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