Chess Telecom has announced yet another acquisition, bringing the total to 40 acquisitions in the past 6 years.
The company says the latest acquisition of Surrey based Pennycom, illustrates the strength and flexible nature of Chess’ approach to deal making. Wishing to capitalise on its existing customer base, Pennycom have “cashed in” and will no longer trade in the telecoms industry.
Along with business customers, additionally there are a number of sub-resellers that will come across as a result of this acquisition.
Jackie Reeves, Director of Pennycom commented, “Our customers are extremely important to us and we know that Chess will continue to offer a good quality service to them.”
“Chess has a proven track record at making successful acquisitions,” Jackie added, “We knew this deal would give us the best value for us, and more importantly, our customers. I am very confident the transition will be a smooth one and our customers will be more than satisfied.”
“What a fantastic way to kick 2010 off, by celebrating our 40th acquisition,” said Chief Executive, David Pollock. “2009 was a difficult year for businesses and 2010 is going to be even harder, but for Chess we see it as a great opportunity for growth and we have a proven track record of success. There will definitely be more acquisition news over the next 11 months.”
Richard Btesh, Chess Director added “Celebrating our 40th acquisition in 6 years is the result of a combination of skilled integration and customer retention. Importantly, the flexibility to tailor deals to fit in with the sellers’ requirements gives us a leading edge. Continued market consolidation means our list is always growing and our flexibility and reputation enables us to approach increasingly significant targets. 2010 is going to be an exciting and challenging year for all of us at Chess.”