Doro acquires Welbeing for £11m to expand services business

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Welbeing is based in Eastbourne servicing around 75,000 connections

Doro has acquired UK-based telecare company Welbeing for £11 million to expand its services business.

Doro Group CEO Robert Puskaric (pictured) said the buy moves the seniors focused firm more in line with “long term ambition” to increase its services business.

Welbeing is based in Eastbourne servicing around 75,000 connections of which 21,000 are private customers. The firm sells wireless sensors, mobile phones and wearables – that detect possible problems such as smoke, gas, flood or personal injuries.

Welbeing has 180 members of staff and will be consolidated into the Doro Group from today (June 1). Doro expects the acquisition to have a negligible effect on earnings per share for 2018. 85 per cent of the acquisition will be made in cash and 15 per cent in newly issued shares.

Doro operates in 40 countries and claims to be the leader in the senior smartphone segment.

The UK is the largest telecare market in Europe with an estimated 1.7 million connections. Market penetration amongst seniors is 13pc, compared to the average in Europe of 5pc. The market is fragmented and mainly analogue although undergoing a digital transformation, on the back of BT’s stated intention to switch off the analogue network by 2025.

Puskaric said: “With our strong position in the mobile phone market, the combination creates a foundation for further growth in the UK telecare sector as well as new service-based offerings for our customers, for example Response and SmartCare by Doro.”

 

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