News blog

Coms

• BY: Andrew Hore |
• POSTED: 12/06/2013 |

Internet telephony services provider Coms has secured a number of deals including the acquisition of assets where its chief executive is an owner.

Coms paid £200,000 to chief executive Dave Breith for data networks assets and £480,000 to TFM Networks for similar assets. The consideration was paid in shares at 2.7p each. TFM will merge the network assets and manage them for five years.

Coms is also acquiring B2B telecoms services provider and network operator Premium O for £1.8m in shares at 3p each, with 20% deferred until the business has generated an additional gross margin of at least £55,000 a month for at least three months.  Premium O made a pre-tax profit of £377,000 on revenues of £2.97m in the year to September 2012.

Premium O will enable Coms to generate revenues from inbound calls. This means that Coms can provide a full service and generate revenues from it all.

Breith owns 59.5% of Premium O and he will initially receive 28.56m shares. This will take his sgtake in Coms to 25.3%.

A 60 rack data centre offering cloud services is due to be launched in the third quarter of 2013.

At 2.58p a share, Coms is valued at £12m.

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