Mergers and Acquistions News
Categories: Telecoms
December 30th 2011, 11:52AM
Elite Telecom has ended 2011 by acquiring GPNS in its largest acquisition of the year.
The business telecoms specialist has completed the takeover of the London-based GPNS for £4.9 million, helping the company increase its revenue by £3.5 million and gain more than 275 new customers.
The deal will also help Elite expand its VoIP solutions to businesses.
"This latest acquisition is a real anchor for our growth plans for the coming 12 months, which will see Elite continue to increase its prominence in the UK business telecoms industry," said chief executive Matt Newing.
"Small, high quality telecoms companies like GPNS will add real value to our current services."
GPNS provides telecoms solutions to multi-site organisations, including internet telephony, IP software Swyx and an in-house disaster recovery platform.
Lancashire-based Elite, meanwhile, has appeared four times in the Sunday Times Tech Track 100.
Earlier this year, it acquired XL Networks and Tariff Reduction Services.
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