Olive pays £200k for DM base

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It is understood London dealership Olive, run by Mark Geraghty (pictured), has purchased the entire mobile customer base of Luton based B2B dealer DM Telecom, for around £200,000. All customers will be moved to and managed by Olive.

The deal sees Olive increase its existing customer base to around 24,000. DM Telecom is understood to have a customer base of around 330 customers totalling 3,500 connections.

It is understood between 80 and 90 per cent of DM Telecom’s customer base is connected to Vodafone through Yes Telecom, with the remaining a mix of O2 and Orange connected through distributor Avenir.

DM Telecom’s office was expected to close on completion of the deal. A number of sales staff are said to have already left, some of which are understood to have set up their own mobile business.

Mobile News also understands DM Telecom has been considering a sale for the past 18 months.

It is said to have engaged in preliminary discussions with several Vodafone focussed B2B dealers such as Gateshead based Fone Solutions, Northamptonshire based Wish Communications and Solihull based PhoneBox.

Neither Olive or DM Telecom were available for comment.

 

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