The acquisition is Adept Telecom’s first since its recent admission to AIM on 15 February 2006, reflecting the Company’s aim to be a leading consolidator in the fragmented fixed-line business market.
Admiral is a natural fit with Adept Telecom as it is a fixed-line telecom reseller and provides voice telephone services to approximately 1,000 business customers on a national basis. In line with its acquisition strategy, Adept Telecom will fully integrate the contracts acquired from Admiral into its existing business.
Adept Telecom is also pleased to announce that the acquisition of Transglobal Telecommunications, completed on 14 February 2006, has already been fully integrated by Adept Telecom. The acquisition of Transglobal added a further 2,700 business customers who are now receiving bills under the Adept Telecom brand.
Over the last three years, Adept Telecom has completed 12 acquisitions and rapidly integrated the acquired businesses. Adept Telecom has a highly efficient automated back office system, which is fully integrated to manage all customer processes. This process model is applied to companies it acquires.
Commenting on the acquisition, Ian Fishwick, Managing Director of Adept Telecom said: “I am delighted that we have now concluded our 12th acquisition in less than 3 years. Admiral’s business is in line with our strategic focus and we are confident we will be able to continue growing by acquiring similar companies from within this highly fragmented market. We are equally sure of our ability to rapidly integrate these businesses and improve their profitability, as exemplified by our recent acquisition of Transglobal.”