Irish telecoms provider Digiweb will transform into a €50m a year revenue company with €10m annual profits after acquiring TalkTalk in Ireland and Belgium, Siliconrepublic.com can reveal.
The move follows Digiweb’s recent acquisition of Smart Telecom.
While the terms of the TalkTalk transaction cannot be released, Digiweb now services 102,000 broadband and telephony customers in Ireland, UK and Belgium, with consolidated annual revenues in excess of €50m and in excess of €10m net operating profits.
The company has moved swiftly to assimilate prior acquisitions, with all material integration, restructuring and efficiency stages now completed. Both Smart Telecom and Internet Ireland are now stable and cash-positive contributors to the Group. The TalkTalk brand will be retained through 2010.
Up to 20 additional staff will be hired to support the new offerings and services to customers. The company has begun recruitment in the areas of finance, customer care and systems development.
“We are excited by the opportunity to serve TalkTalk customers and further enhance the services and savings they receive from us,” Colm Piercy, Group CEO, explained.
“We will continue to seek selective consolidation opportunities in the telecoms market to extract synergies and deliver value for our customers and the Digiweb Group.”
Piercy said that TalkTalk customers will soon benefit from additional savings to their telephony and broadband accounts in addition to upgraded and expanded services as Digiweb are committed to reinvigorating the TalkTalk product range.
Already delivering value on bundles and international calls, the upgraded services will introduce savings of up to 40pc compared to Eircom, Vodafone and other operators for national, UK and mobile calls.
By John Kennedy
Photo: Colm Piercy, Group CEO, Digiweb