Mergers and Acquistions News
Categories: Telecoms
August 26th 2010, 16:49PM
UK telecoms firm Chess Telecom has announced its 12th acquisition of the year so far, the takeover of Intelligent Networks.
Chess, an award-winning telecoms provider based in England's northwest, has now acquired an impressive 48 assets in just six years.
The firm has said it is forecast to top turnover of £30 million as a result of the Intelligent acquisition, after figures showed turnover at the company reached 29.1 million for the year, up by 13 per cent.
David Pollock Chess's founder and chief executive, said the firm could now expect its practice of regular acquisitions to drive revenue yet further in 2011.
"We are confident that our proven business model of acquisition, organic growth and cross sales to existing customers will deliver another year of increased profitability in 2011," he said.
According to englandsnorthwest.com, Chess's rapid growth has helped it to secure "banking facilities" of £10 million with RBS to support future acquisitions.
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