Feeds

Redstone snaps up Symphony Telecom for £17m

It's a mobile SME thing

Beginner's guide to SSL certificates

Redstone plc is to buy mobile outfit Symphony Telecom for about £17m as part of plans to expand its business in the UK.

Symphony Telecom is a distributor of mobile and fixed line telecoms to small and medium sized businesses (SMBs). It also acts as a distributor for all five mobile network operators within the UK.

Once the deal is completed Redstone will add more than 8,000 corporate and SMB punters to its existing customer base and rename the operation Redstone Mobile. It also reckons that the addition of a mobile business will give it the opportunity to bundle mobile services alongside its existing fixed line and broadband products.

"The offer for Symphony represents a key step in our stated strategy to broaden our product offering and take advantage of consolidation in this industry," Redstone chief exec Martin Balaam said in statement to the Stock Exchange today.

Last year, Redstone snapped up Xpert Group Ltd - an independent converged IP solutions provider specialising in contact centres, voice and video, IP networks and security - for £25.5m. The addition of Symphony means Redstone will now operate in five main business areas including telecoms, mobile and converged solutions.

Today's announcement came as Redstone announced that revenues for the year to the end of March were up 46 per cent to £72.5m, primarily as a result of the acquisition of Xpert Group.

Overall, operating losses rose to £22.9m compared with £7.2m a year before "mainly due to restructuring costs and the goodwill impairment of historical acquisitions". ®

Top 5 reasons to deploy VMware with Tegile

More from The Register

next story
YOU are the threat: True confessions of real-life sysadmins
Who will save the systems from the men and women who save the systems from you?
Broadband sellers in the UK are UP TO no good, says Which?
Speedy network claims only apply to 10% of customers
Virgin Media struck dumb by NATIONWIDE packet loss balls-up
Turning it off and on again fixes glitch 12 HOURS LATER
Facebook, working on Facebook at Work, works on Facebook. At Work
You don't want your cat or drunk pics at the office
Soz, web devs: Google snatches its Wallet off the table
Killing off web service in 3 months... but app-happy bonkers are fine
Ofcom tackles complaint over Premier League footie TV rights
Virgin Media: UK fans pay the most for the fewest matches
Net neutrality, Verizon, open internet ... How can we solve this mess?
The finer points of telecoms policy explained in normal language
prev story

Whitepapers

Why cloud backup?
Combining the latest advancements in disk-based backup with secure, integrated, cloud technologies offer organizations fast and assured recovery of their critical enterprise data.
Getting started with customer-focused identity management
Learn why identity is a fundamental requirement to digital growth, and how without it there is no way to identify and engage customers in a meaningful way.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Simplify SSL certificate management across the enterprise
Simple steps to take control of SSL across the enterprise, and recommendations for a management platform for full visibility and single-point of control for these Certificates.
Storage capacity and performance optimization at Mizuno USA
Mizuno USA turn to Tegile storage technology to solve both their SAN and backup issues.