Olive’s revenue up 63 per cent to £17.6m
Increase of £6.6 million from the previous financial year, with EBITDA almost quadrupling to £4.5 million
Dealers
November 4, 2014
Maintel broadens product portfolio with acquisition of unified communications player
Telecoms provider Maintel has purchased unified communications and managed service provider Proximity for £9.6 million.
Maintel says the deal is a key component of its strategy to diversify its revenue base and bring additional skills into into the company. Berkshire-based Proximity provides voice and data network infrastructure solutions.
The acquired firm had a turnover of £12.4 million and made a net profit of £638,000 for the year-ending December 31 2013.
“Proximity is a highly respected business and builds on Maintel’s offering in a number of key areas,” said Maintel chief executive officer Eddie Buxton. “This is a core strategic investment for Maintel, bringing in new services and enhancing our existing capabilities, to create a new proposition that’s important to our long term growth, and will be a direct benefit to our customers.”
The Proximity name will remain with no immediate plans to phase it out. Former Proximity chief executive officer chief executive officer Darren Boyce joining Maintel’s board as a non-executive director.
The deal is Maintel’s first acquisition since it bought unified communications provider Datapoint for £3.5 million in September 2013.