Pinnacle buys Solwise Telephony

Pinnacle Telecom Group has acquired Leicestershire-based Solwise Telephony for up to £500,000 in an all-share deal.


Pinnacle Telecom Group has acquired Leicestershire-based Solwise Telephony for up to £500,000 in an all-share deal.

Pinnacle Telecom Group has acquired Leicestershire-based Solwise Telephony for up to £500,000 in an all-share deal.

Solwise Telephony provides telecommunications services to the SME market, including line rental, broadband and other bespoke services. The company had a turnover of £1 million and operating profits of £18,000 in the 17 months to September 2009. The deal comes after Pinnacle’s acquisition of ATUK in June last year.

Alan Bonner, chief executive of Pinnacle, said: ‘Cross-selling multiple services to our customers is a key feature of our strategy, which will be enhanced by this acquisition. We intend to build on our strategy of expanding the company through bolt-on, well priced opportunities.’

In the six months ending March 2009, Scotland-based Pinnacle reported an increase in revenue of 48 per cent to £1.1 million, while net losses were reduced by 40 per cent to £512,000.

Nick Britton

Nick Britton

Nick was the Managing Editor for growthbusiness.co.uk when it was owned by Vitesse Media, before moving on to become Head of Investment Group and Editor at What Investment and thence to Head of Intermediary...

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