Dublin-based telcom start-up Pure Telecom has acquired the Irish customer base of a UK-based communications firm for what is believed to be a six-figure sum. The company says the acquisition of Comec Voice and Data will boost Pure’s revenues by an extra €250,000 per month.
Privately-owned Pure Telecom has achieved rapid growth since setting up in 2002. Turnover for 2003 was a modest €1.3m but will have trebled to an expected turnover of €4m for 2004. Based on the current run rate the company is on target to achieve a turnover of €10m for 2005.
It is understood that Pure Telecom is aggressively seeking other companies for acquisition and is expected to announce a second acquisition in a few weeks.
In August the company announced that it is expanding its reach outside of Ireland and opening a new office in Austria to service the accession states.
Pure Telecom will employ additional staff as a direct result of the Comec agreement and recently moved to larger offices to facilitate its growing business.
Paul Connell, director of Pure Telecom, commented: “When we set up Pure Telecom we realised we faced a highly competitive market and knew that rapid consolidation would eventually be needed to achieve the scale to enable us to compete with the monopoly operators.”
Connell continued: “We are fast on our way to becoming one of the largest suppliers of business telecommunications in Ireland and will have another significant acquisition to announce in the coming weeks – one that will further increase our market share and prove our ability to provide a telecommunications service that is unrivalled in price, service and billing.”
Pure Telecom has developed a profitable business delivering a “One-Stop-Shop” telecommunications and internet access service to Irish businesses nationwide. These include fixed-line voice services (local and long distance) and high-speed internet access solutions (DSL, Wireless, Satellite and Leased Line).
The company’s customers include indigenous organisations in the private and public sector including major pharmaceutical companies, professional bodies, financial Institutions and Government bodies. Pure Telecom is also the recommended supplier of the Institute of Chartered Accountants.
Commenting on the Comec deal, Martin Rowley, CEO of Comec Voice and Data (UK) said: “Pure Telecom has built a high-calibre team which has established a successful business in Ireland, and demonstrated a commitment to providing their customers with a superior level of service and value. Our main concern was to ensure that customers experienced no disruption to their service. Pure Telecom’s account management and professionalism has exceeded all expectations and the changeover has been seamless.”
By John Kennedy