VoIP provider Truphone has bought low-cost call provider SIM4travel for £1.34 million in cash and £1.3 million in shares.
Truphone takes charge of SIM4travel’s infrastructure, customer base, distribution and staff in Portugal and London.
Integration of SIM4travel’s assets into Truphone’s portfolio has begun and is expected to last several months. Truphone said all staff will be retained.
Future branding of SIM4travel is undecided, although a Truphone SIM is expected later this year.
Truphone chief executive James Tagg said: "This completes Truphone’s GSM core network, allowing us to offer global mobile operator services. We’re already enabling customers to make low-cost Wi-Fi calls and soon we’ll be able to provide the added convenience of low-cost GSM calls, all on a single, worldwide Truphone SIM."
SIM4travel managing director Paul Buck said: "By integrating the technology, platform and distribution assets of SIM4travel with the resources and technical expertise of Truphone, significant shareholder value can be created.
"Truphone will be well positioned to offer new and compelling propositions that will be low cost and feature-rich."