Gamma has its sights set on furthering its European expansion plans by approaching VozTelecom, a provider of IP telephony services in Spain - for about €25.3m (£21m).
The news was broken on news website Morningstar
Although the deal is not complete, Gamma said it has identified Spain as one of its key target geographies. Gamma believes that it can bring its expertise and commercial strength to both support and help accelerate VozTelecom's growth in the cloud PBX market in Spain.
Gamma will fund this via its existing cash resources. In 2019, VozTelecom's turnover was €15.6 million and earnings before interest, taxes, depreciation and amortisation was €2.5 million.
Shares in Gamma were up by around 1.5 per cent this morning.
