Virtual1 today announced its acquisition of Upshot Limited’s “Trinity Portal” division for an undisclosed sum. The acquisition, Virtual1’s first investment, is a major step in the company’s ambitions to have the most advanced telecoms portal in the UK.
Upshot has been developing telecoms portals for some of the biggest names in the channel space including, Virtual1’s own portal, 1Portal. The acquisition sees the intellectual property (IP) and associated assets of the Trinity Portal brand transfer over to Virtual1.
Tom O’Hagan, CEO, Virtual1 commented: “I’m delighted with this announcement – this acquisition not only protects the IP and assets of our partner portal, but it also gives us the dedicated resource of talented developers to focus on the planned enhancements we have for 1Portal. Our ambitions have always been to differentiate from our competitors by providing the fastest quote to order process in the business and 1Portal is key to achieving that.”
The acquisition also sees the Trinity Portal UK based development team move over to Virtual1 with immediate effect.
As part of the investment, Peter Francis, CEO of Upshot will continue as a consultant to Virtual1 in an advisory capacity. Francis commented: “It was clear to me that the team at Virtual1 were as passionate about the capability and potential of the Trinity assets as I am. Over the years they have contributed to the feature-rich capability of Trinity and this is a great move for Virtual1 in securing the IP and assets. We’ve worked closely with Virtual1 to ensure a smooth transition of both assets and resource with our development team being introduced to Virtual1 during the early stages of negotiations.”
The acquisition furthers Virtual1’s ambition to have the UK’s most advanced partner portal. This week also saw the number of quotes placed via 1Portal hit the 100,000 mark. With over 1,500 portal users, Virtual1 is planning to build out further enhancements in the new year.