Hello Telecom Plc, a supplier of communications systems and services to UK corporates, has acquired the hosted voice business and customers of telecommunications company TelNG in an all-share deal. 

Hello Telecom Plc, a supplier of communications systems and services to UK corporates, has acquired the hosted voice business and customers of telecommunications company TelNG in an all-share deal.

The deal brings Hello Telecom its own BT interconnect network, telecoms switching technology and intellectual property, which will enable Hello to bring new products and services to market.

The company foresees that the transaction will not only add to profits on existing lines, but also provide a “valuable synergy” for future development and growth.

Ken Grundy, chairman of Hello Telecom, said: “The TelNG acquisition provides an approved BT Interconnect Network, making us a full-blown telecom provider.

“I also believe that in this difficult financial market, there will be consolidation within our industry and we will be looking to make further acquisitions of companies that have synergy with Hello.”