Business telecoms specialist Elite Telecom has completed the £700,000 asset purchase of VOIP communications provider XL Networks Ltd.
The deal is expected to add more than 800 new customers and boost revenue at the Chorley-based firm by a further £1.2million.
This latest agreement marks a further expansion for Elite, which was founded by CEO Matt Newing in 2000 and now boasts turnover in excess of £18m and clients including Air France, Intercontinental Hotels and a host of Premier League football clubs.
Newing says he remains “quietly hopeful” that the deal will mark the beginning of a more expansive phase of growth and acquisition activity for the company.
He said: “We have been able to maintain and strengthen our market position despite the economic downturn. Our strategy has been to achieve organic expansion through innovation that keeps us ahead of the game, while being able to identify and respond nimbly to positive acquisition opportunities.
“This latest deal reflects our ambitions and will help to solidify our prominence in the business telecoms industry and we are quietly hopeful that it won’t be the last in the near future. Alongside this activity, we are constantly aiming to stay on the cusp of development by ascertaining brand new services to offer our new and established client base.
“It also presents an opportunity for us to raise awareness of our bespoke products and services, such as Elite IQ, a sophisticated call queuing system that reduces waiting times by allowing callers to hang up and call back at an allocated time when they will be placed at the front of the queue.”