Clarke Willmott has advised on the multi-million pound acquisition of telecoms provider Evolve by communications specialist Onecom.
Onecom will take over Evolve’s operations in London, Cambridge and Shoeburyness, along with Cardiff-based The Word, which is owned by Evolve and will become Onecom’s first office in Wales. The deal is expected to bring Onecom an additional £7m of earnings before tax and deductions (EBITDA) in the first 12 months.
The strategic acquisition, one of the most significant in Onecom’s history, consolidates the company’s position as the UK’s leading independent business-to-business communications provider. It also enables further investment in its total communications drive, which sees mobile, fixed line, data and IT services offered to businesses as one integrated, cost-effective package.
“It was a pleasure to work on and complete this important deal which is part of Onecom’s ongoing strategic growth strategy.”
Onecom and Evolve are two of Vodafone UK’s largest business to business partners within the Vodafone Partner Programme. Evolve, with an annual turnover of around £20m a year, is Vodafone UK’s third-largest partner, while Onecom, which currently turns over £60m a year, is the largest.
The deal means Onecom adds 65,000 UK Vodafone business connections to its portfolio of accounts – taking the company’s total number to well over 300,000.
Darren Ridge, Onecom CEO, said: “This is a very significant acquisition for Onecom as we continue to grow in our position as the UK’s leading independent business communications provider.
“Evolve’s customer-focused approach, expertise in unified communications and commitment to providing innovative solutions for businesses of all sizes perfectly reflect Onecom’s own strategy and values. Evolve is an extremely successful operation that will continue to blossom and grow under the Onecom brand.”