Thu, 26 Aug 2021 | BUSINESS SALE
London-based telecoms firm TelcoSwitch has received an investment which will enable it to complete the acquisition of SureVoIP, its third takeover in the past seven months. TelcoSwitch is a unified communications provider, delivering a range of telecoms solutions to businesses on a monthly subscription model.
The investment comes via SME accelerator BOOST&Co, which provides growth capital to innovative, fast-growing businesses in the UK. The company began working with TelcoSwitch in 2020 to support the firm’s rapid expansion plans and the acquisition of SureVoIP is the second that BOOST&Co has supported it with since.
BOOST&Co chose to work alongside TelcoSwitch due to the company’s strong management, solid growth plan and the market drivers it looks set to capitalise on.
The deal comes at a busy time for dealmaking in the telecoms sector. M&A is being driven by wider adoption of technologies such as 5G and fibre, the rise in homeworking during COVID-19 and government-backed infrastructure projects, all of which have lead to renewed interest in the sector from private investors.
The acquisition will see TelcoSwitch expand into Aberdeen, giving the firm its third regional UK office. SureVoIP will be merged into the TelcoSwitch Group, with the target company’s Founder and MD Gavin Henry becoming TelcoSwitch’s new Chief Information Officer.
BOOST&Co’s Head of South and Midlands Kim Martin said: “TelcoSwitch continues to deliver on its ambitious growth plan, with SureVoIP being its third acquisition in just seven months. We are delighted to demonstrate our continued support for chief executive Russell Lux and the rest of the TelcoSwitch team.”
TelcoSwitch Chief Financial Officer Paul Landsman added: “Having previously worked with the BOOST&Co team, it is great to continue this partnership via their support for the acquisition of SureVoIP.”
“This deal presents a great opportunity for us to enhance the TelcoSwitch offering, by strengthening our intellectual property portfolio and adding valuable expertise for the small office and microbusiness market. At an exciting time for the business, we’re grateful to the team at BOOST&Co and are confident that our ambitious expansion plans are achievable with their support.”
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