Telecoms provider AdEPT has announced this morning that it is acquiring Comms Group. The consideration is for £3.5m plus Comms Group’s cash balances, with up to a further £3.5 payable on performance.
Comms provides business customers with voice and data services and is a specialist Avaya provider. Its has particular expertise in Avaya’s IP Office product and will bring experienced IT installation and support teams.
At the end of March, Comms Group reported revenues of £3.3m and pre-tax profit of £400,000. Management accounts for last year show revenues of £3.7m and operating profits of £800,000.
Ian Fishwick, AdEPT’s chief executive, announced the news to the city this morning and highlighted, like his own company, Comms Group is asset-light and will add to the existing group’s skillset, particularly within the Avaya Aura product set.
“Comms Group has a well-developed customer base with long term relationships across a range of customers. The acquisition is expected to be earnings enhancing from completion,” he said.