Mergers and Acquistions News
Categories: Telecoms, Software
July 6th 2010, 18:22PM
Online electronics retailer eXpansys has announced plans for the acquisition of Data Select Network Solutions Limited (DSNS) and PJ Media to build a global online superstore.
The telecoms firms are controlled by entrepreneur Peter Jones, who is the major shareholder in eXpansys, in a deal worth a total of £49 million.
Under the terms of the deal, his total stake in the new company will fall from 75 per cent to 43 per cent. The deal qualifies as a reverse takeover and is subject to a shareholder vote on July 23rd.
DSNS focuses on the sale and distribution of SIM cards and retail solutions for some of the UK's major mobile telecoms firms, while PJ Media is primarily concerned with web design.
Mr Jones said; "We expect to create over time a real powerhouse, both in terms of its investment potential and its ability to serve consumer technology products to customers right around the world."
Peter Jones founded Phones International Group in 1998 to provide mobile cellular solutions and now operates under the name Data Select.
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