New Acquisition Sets Elitetele.com Up for Success
There’s no doubt about it: the unified communications space is growing by the minute. It seems like every day there’s a new UC company popping up. This is great for consumers, as they have plenty of options to choose from. However, the growing number of UC companies in the market increases competition, making it more difficult for brands to make themselves stand out from the crowd. All of this competition can be damaging if companies don’t know how to handle it. That’s why acquisitions are such a strategic move.
The latest acquisition news this week comes from Elitetele.com. The UC provider just announced that it has acquired Nexus Telecommunications Limited, a communications solutions provider. This acquisition is Elite’s largest to date, which is really saying something considering that it has made 15 acquisitions total since 2008. Needless to say, Elite knows the benefits of building up its team.
According to the announcement, Elite is set to have some big gains through this acquisition. The company will have revenue in excess of £50m with underlying EBITDA of over £8m, representing growth of 37 percent and 43 percent over Elite's FY7/16 results. Additionally, it will have in excess of 165 staff across seven locations, with Nexus contributing £16m revenue and 35 staff. Not only will its revenue and employee base grow, but Elite’s customer base and geographic presence will also increase, making room for even more possibilities.
Rob Sims, CEO, Nexus Telecommunications, who is staying on with the business following the acquisition and joining the group leadership team, pointed out that this move is also a good thing for Nexus’ current customers. “Our customers will benefit from Elite's wide range of services, including hosted IT services, PCI Compliance, SIP services, phone systems and numbering services, which will complement the Nexus offering, giving our customers even better service,” Sims stated.
Elite's Founder and CEO Matt Newing, expressed his excitement over the acquisition, saying, “We're delighted with the acquisition of Nexus Telecommunications. Nexus has a great reptation in the industry and is a perfect complement for Elite. We share a similar high-service culture, and we believe the combination of our two companies' unified comms and IT products and services will deliver the strongest client offering in the industry.”
Edited by Maurice Nagle