Thu, 11 May 2023 | BUSINESS SALE
A Bournemouth-based telecoms equipment firm has continued its acquisitive streak with a deal for the customers of an IT services business. 4Com has acquired close to 90 business telecoms customers from Meridian IT Communications, which is set to close, adding to its base of around 13,000 clients.
The deal is the fifth acquisition that 4Com has completed within the past year, having made its first acquisition in its more than 20-year history last summer with the takeover of West Bromwich firm Midshire Telecom.
Since then, the company has completed several other transactions. In November 2022, it acquired Norwich-based Eastern Voice and Data before acquiring the business customers of Northampton-based Bluebell Cloud Solutions in January of this year. In March, the firm acquired Shropshire-based Reach Digital Telecom, adding 3000 customers.
4Com has said that acquisitions are a core part of its ongoing growth strategy and that the firm was “constantly pursuing” new M&A opportunities in the UK telecoms market.
Following the deal, 4Com Chief Executive Gary Scutt said that the acquisition of Meridian IT’s business customer base would “complement and further” the company’s ongoing acquisitive growth strategy. Meridian IT director Danny Cox added that the sale of the firm's customer base was "a key part" of the process of closing the business.
Meridian IT Communications is based in Hampshire and provides communications devices and telecoms services to organisations throughout the UK. The company’s products and services include a range of broadband and telephone systems, IT support, maintenance, category 5 cable, line rental and corporate mobile phones.
4Com’s acquisitive growth plan comes during a period of sustained dealmaking within the UK telecoms sector over recent years. This has been driven by a range of factors, including growing public and private investment in technologies such as fibre and 5G and the impact of the COVID-19 pandemic, which has led to a lasting shift towards remote and flexible working, forcing many businesses to reassess their telecoms infrastructure.
Read more about what’s spurring M&A activity in the UK telecoms industry in this dedicated BSR insight.
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