Elite Telecom has continued its rapid growth after completing the strategic acquisition of CAN Networks.
The deal has the potential to deliver £8.5m in additional revenues over the next five years for Elite Telecom, which provides business telecoms services to a range of clients including Air France/KLM, Intercontinental Hotels Group and a number of Premier League football clubs.
CAN Networks, based in Dorset, supplies voice and data network services to an extensive client base including councils, schools and police forces.
This latest acquisition reaffirms Elite Telecom’s position as one of the UK’s most rapidly expanding companies and follows its 5th place ranking in 2009’s Lloyds Development Capital Hot 100 fastest growing firms list.
CAN Networks’ founders and senior management team will be joined by Elite’s Matt Newing, Nick Mannion and Adam Turton, who bring a wealth of knowledge and experience of both the telecoms industry and delivering successful business growth.
Matt Newing, chief executive of Elite Telecom, said: “We have big aspirations for where we want to see Elite both in the short and medium term and this purchase will help us to realise that growth.
“The telecoms market has seen extensive consolidation and we have successfully developed the business to a position where we are now the buyers in the market.
“CAN Networks has built up a successful customer base over the last 12 years on the back of an excellent offering and high class customer service and this fits well with our philosophy.
“This deal will give us a foothold in the public sector, a relatively untapped market for Elite Telecom.”
Paul Langford, managing director of CAN Networks, said: “Elite will give us the resources and expertise to grow in the future and be able to offer our customers an even wider range of telecoms and data services.”
Gareth McIntegart of lawyers DWF and Paul Billingham of Knight CF advised on the deal.
Great news on the new acquisition, 2010 will be a challenging and exciting year for the business to progress and grow.
Great news on the acquisition. Change is inevitable.
Fantastic, It all adds to the excitement of the new offices!
It is good to see that great business’ are still doing well in these difficult times. We have used Elitetelecom for a number of years and I wish them all the best for the future.
Its good to see Elitetele.com acquiring a good business that adds more unique products, services and expertise to their existing value add product set. We have only recently moved to Elite, however I do have to say from what I have seen so far they are leaps and bounds ahead of any potential competition. We could not find another telecoms company that could cater for our call centre needs.
It’s great to see Elite Telecom acquire new businesses. They seem to have the whole of the telephony industry cornered with the services and products they offer, all from one point of contact.
The fact that you can go from a simple VoIP telephony system to a complete disaster recovery package is amazing. Maybe 2010 will be time for growth into even more of the Internet based technologies?
It’s also nice to read on a blog that other customers/clients have had the same positive experiences. I can’t wait to see who or what they they add to their business portfolio next.
I can see why Elite bought CAN networks. It looks like a good business, Elite telecom have suddendly started appearing everywhere.