Bournemouth's 4Com continues acquisition spree with Meraki Communications deal
4Com provides business phone systems to UK SMEs and the deal marks the company's 12th acquisition in the last 18 months.
Gary Scutt, 4Com's CEO said the deal had been made "easier" by a recommendation from the owners of "our previous acquisition who spoke highly of our process".
"We continue to strive to be as open and upfront as possible about what we’re looking for and what we’re able to offer, and I’m pleased that we’ve once again had a positive outcome thanks to this approach," he said.
Lloyd Haimes, Meraki’s managing director, added: "We’re pleased to be bringing this deal to a conclusion, and are excited for our future as a company, thanks to the funds it will generate.
"We’ve appreciated the straightforward approach that 4Com have taken to this deal; everyone has been clear on what was happening throughout, and that’s helped to bring it to a swift conclusion.
"Being able to talk to contacts in the industry who spoke positively about 4Com’s acquisition process also gave me confidence that the deal would be completed successfully. I’d like to thank the customers we have sold for their custom and wish them the best for the future in the safe hands of 4Com."
Meraki Communications was formed in 2020 and will be continuing to trade after the deal with 4Com.
Haydn Neville, 4Com's acquisitions manager, added: "I’m looking forward to speaking to further telecoms companies about how selling a customer base, or part of it can be a quick, cost-effective way of generating funds for your business, and is an increasingly preferable alternative to finance for many companies.
"We are more than happy to have informal discussions with any telecoms company looking for more information on their options."