Acquisitive Chess in move for Hoodpoint
Comms provider makes eighth acquisition in 10 months
Comms provider Chess has made yet another acquisition - its eighth in 10 months - and revealed that an additional half-dozen could follow later this year.
Its latest buy, Hoodpoint Communications, boosts Chess's data and network offerings.
The firm said that while previous acquisitions have focused on voice, Hoodpoint, which is to be renamed Chess Network Solutions, adds broadband, data and voice over IP (VoIP) expertise.
As part of the deal, Chess gains 21 staff, offices in Newcastle, Bolton and Wilmslow, and a client list that includes Newcastle Building Society and Barbour.
Hoodpoint has been a partner of Chess for some time. It was involved with Chess's launch of broadband and data services.
David Pollock, chief executive of Chess, said: "This acquisition completes our product portfolio. Hoodpoint has got a lot of expertise in the data arena; it's a perfect marriage.
"We made seven acquisitions last year, and we?d like to achieve a similar number this year."
He said there are a number of deals "in the pipeline", with the next acquisition likely in April. As the business develops, Chess is looking to sign both voice and data resellers, Pollock added.
Matthew Ball, research analyst at Canalys, said services such as VoIP are becoming more popular. "It makes sense to broaden the portfolio of value-added services. Diversifying and increasing the revenue streams on multiple products is a good idea," he said.
Late last year Chess snapped up Leicester-based reseller OCIS and the client list of Last Word Communications.