Fri, 13 Jun 2014 | MERGER
IT and telecoms business The Chess Group has purchased Avenir Telecom Group’s UK airtime division to continue with its growth strategy.
Its 80th acquisition is set to boost Chess’ mobile and partner services division, and will add revenues of £22 million, EBITDA of £1.6 million and 55 staff to its existing business.
Founded in 1993 The Chess Group has a workforce exceeding 250 people and provides fixed-line and mobile services, broadband and Blackberry products, and maintenance to private and public sector customers.
The group is familiar with the acquisition process, having made 79 such purchases so far this century. Recent companies folded into the group have included The CRM Business, eBilz, and Integra ICT. Chess’ revenues have shot up to £44 million in 2013 from £1 million in 2001.
Chess has created a new division out of its latest deal, called Chess Partner Services; the division will be focused on developing airtime business. It will give end-to-end processing and support service to companies wanting to provide mobile and fixed-line telecoms services.
Richard Btesh, director of Chess, commented: “Over the years we have often been approached by sellers of mobile customer bases, but this is the first opportunity for partner and mobile growth.
“Being a great place to be a customer is the key to our success, this acquisition strengthens our proposition with such a strong synergy between our core values and cultures.”
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