Service provider SpiriTel has made its tenth acquisition in under four years with the purchase of mobile voice and data reseller Mobotel for an inital consideration of 2.15m. The fee will rise to £3.15m following performance related earn-out payments of £1m.
London-based Mobotel is an independent B2B supplier of BlackBerry solutions and focusses on the provision of converged mobility services to corporate customers in the legal and financial services sectors. Over 90 per cent of connections from its 160 corporate customers include BlackBerry services.
The company also provides a suite of mobile applications to several of its larger corporate customers and is a supplier of turnkey mobile solutions. It also has a customer base with an ARPU of almost £50 per connection.
SpiriTel said that Mobotel is a strong fit with its mobile line of business and significantly it has not previously sold fixed line voice or data services or IP telephony systems. It added the acquired customer base represents significant potential for cross selling of its ‘complete business communications’ offering.
SpiriTel chief executive Alastair Mills (pictured) said: “This acquisition is particularly significant, being our tenth since we established SpiriTel Business in 2006. I am hugely proud of our progress over the past four years and our recent results are testament to a focussed business model, well executed by a talented and dedicated team at SpiriTel.
“Mobotel is a well established provider of mobile services and solutions and is a great fit for our rapidly expanding Group. The customer base is particularly attractive in that most connections are BlackBerry and the ARPU is well above the industry average.
“Despite our rapid growth, we take the integration phase very seriously and, using our own integration framework, we will quickly deliver identified cost synergies and pursue the extensive cross selling opportunities.”
Mobotel managing director Richard Smith: “This is a very exciting partnership for Mobotel and our customers. SpiriTel is recognised as a leading provider of converged communications to business customers and having worked hard to develop market leading mobile services, we are looking forward to offering our customers an expanded, integrated product set as part of SpiriTel’s Business Division.”