UK based VoIP provider says acquisitions will make up two thirds of its growth over next five years
VoIP.co.uk plans to continue its spending spree after completing the purchase of German value-added service provider Teleforte in a deal that will add €6 million to its revenues.
The UK-based VoIP provider bought Danish unified communications provider Firstcom in July as part of a European expansion, and it has now added Germany to its base.
VoIP.co.uk chairman Jean- Pierre Vandromme said the firm will continue to make purchases and expects acquisitions to make up two thirds of its growth over the next five years,with the final third of growth coming organically.
Growing the business
“We are planning to grow the business mainly through purchases,” He said. “We expect about a third of our growth in the UK to come organically and the rest of it will come through acquisitions.
“We also plan more expansion in to Europe. You just need to cast your eye over a map of Europe to get an idea of what our expansion plans are. We went to Germany because it is the biggest market.
“We may not go straight in to France, so the next market we are looking at is in Spain. So we’ll roll out in Germany and the UK, and make more acquisitions in both, which will keep us busy until the end of the year, and then look at the other big markets.”
VoIP.co.uk generated a turnover of £2.5 million last year, which Vandromme said made it profitable, although he declined to disclose profit figures. The acquisitions have been funded primarily by the personal finances of co-founders Vandromme and Adam Crisp.
VoIP.co.uk has traditionally offered VoIP cloud-based services to call centres including its SIP Encrypt solution, which allows call centres dealing with card payments and other sensitive information to meet legal requirements which state that calls must be securely encrypted. It has a UK client base of around 2,500.
The Bicester-based provider will also launch an enhanced mobile product set under the Firstcom brand in the UK later this year, including a business- to-business MVNO, which is currently undergoing alpha testing.
Managing director Crisp said: “We have already started the alpha testing of our cloud-based MVNO telephony system and expect to release a beta version in a billing sense for a limited number of partners by the end of this month.”