Timico today announced the acquisition of the telecoms interests of Coms Plc (Coms), the Buckinghamshire-based provider of hosted unified communications (UC), cloud and connectivity services. The deal is for GBP2.5 million, with a further GBP1 million payable depending on the trading performance of the business.
In addition to the business assets, Timico will be taking on immediate responsibility for the customers contracted to Coms for their communications services. Timico plans to integrate these new clients into its well-established Business and Enterprise Services divisions.
Tim Radford, Chief Executive Officer at Timico, said: “We are delighted to be welcoming Coms customers into the Timico family. We are a well-funded, stable business already trusted to look after the communications needs of more than 12,000 UK companies. I am confident that the structured support and expertise we can offer qualifies us as a safe pair of hands to take on these new customers.”
Formed in 2005, Coms Plc operates with a 50 members of staff in High Wycombe, and provides premium rate and fixed line telephony, MPLS networking, mobility, maintenance, VoIP and SIP-based services in addition to its core cloud, communications and connectivity solutions.
The Timico group now employs more than 350 staff at five locations across the UK, in Newark, Milton Keynes, Fareham, Stokenchurch and London, 80% of whom work in customer-facing roles. Its head office location in Newark boasts a £5m data centre and is home to a national network operations centre from where its 10Gb MPLS core network and customers’ services are managed and monitored 24 hours a day.
“Our strategic account management and client services teams are fully-briefed and ready to get to know their new customers. We have built our business through a healthy combination of organic and acquisition-led growth. As well as a team of quality people, we have all the necessary building blocks in place – from billing and CRM systems to online customer portals and service monitoring tools – to ensure our customers are well looked after from the day they join us” concludes Radford.
Coms now plans to focus instead on Redstone, focusing on the company’s ‘Smart Buildings’ product and expanding its managed services business.
“The board intends to capitalise on accelerating growth in the construction industry and, in particular, the fast growing Smart Buildings sector where Redstone has already delivered strong referenceable solutions to a number of landmark projects. The potential in these markets as they go through both structural and technological change is enormous,” said Non-Executive Chairman Frank Beechinor in a statement.