Deal type
Sector
Acquisition of WN1 Communications Limited
HMT Corporate Finance, led by Bruce Morrison, were delighted acted as reporting accountants on Spiritel’s acquisition of WN1 Communications Limited ("WN1").
WN1 is an accredited reseller of mobile voice, data and Blackberry services target to business clients and has customers include Lufthansa, Servisair and Top Tiles. WN1 is an O2 Advance Partner, T-Mobile Business Partner and member of the Blackberry Alliance.
The acquisition, Spiritel’s fifth in 18 months, in line with it’s growth strategy through both acquisition and organic growth, adds mobile services to Spiritel’s product portfolio and competes their fully integrated voice and data offering including telephone systems, ISP services and data networking.
Commenting on the acquisition, Alastair Mills, Chief Executive of Spiritel said, "WN1 is a strategic and highly profitable acquisition that allows us to complete our business communications offering by adding mobile voice and data services. WN1 has an impressive track record of revenue and profit growth and the incremental earnings will further enhance our reported turnaround in financial performance"
Bruce Morrison commented, “We were delighted to act for Spiritel and believe that the acquisition of WN1 builds on Spiritel’s recent success, which delivers scale and organic growth opportunities from cross selling and should quickly make a positive contribution to earnings. This provides Spiritel with an exciting opportunity to continue its success”