UK business services player Radius buys majority stake in established Dublin-based telco operator Telcom, accelerating its growth in the UK and Ireland.
Radius has confirmed that it had acquired a majority stake in Dublin-based business telecoms provider Telcom, extending its island-wide reach in the sector and the integration of its expanding product portfolio.
The investment in Telcom marks Radius’ tenth telecoms acquisition in just recent years and its first major purchase in the Republic of Ireland which will open new expansion opportunities for both companies keen to expand their range of services across the island of Ireland and Great Britain.
“As old legacy telecommunications become depleted and the ISDN switch-off looms, the future lies in the migration of all voice and data telecommunications on high-speed ISP networks”
Telcom was founded in 1999 and owns its own secure high-speed ISP core network, serving many of Ireland’s leading companies and brands, including Fyffes, Savills and Maxol.
Expanding in Ireland
Last month, Radius opened a major new Belfast base, accommodating teams from its telco division Radius Connect, fuel cards and telematics which will service customers in Northern Ireland and the Republic of Ireland. Radius owns Irish fuel payment card market leader DCI which this year marked its 25th year in business.
The new Belfast city centre office, which has more than 130 staff, will also act as a financial hub for Radius Connect in Europe.
Headquartered in Crewe, Radius Payment Solutions was placed 24th in The Sunday Times HSBC Top Track 100 league table published in 2020. It was founded in 1990 by CEO Bill Holmes and now has over 2,000 employees in 18 countries spanning five continents, with over 20 offices throughout the UK and Ireland – including Belfast, Dublin, Derry and Galway – and an annual turnover of more than £2.6bn.
“Our successful growth strategy is about making the right connections and I’m delighted as part of our tenth strategic growth acquisition to be working with Telcom as we accelerate our growth plans together, creating new opportunities for expansion and driving new solutions for businesses across the UK and Ireland,” Holmes explained.
“As old legacy telecommunications become depleted and the ISDN switch-off looms, the future lies in the migration of all voice and data telecommunications on high-speed ISP networks and together we are perfectly poised to take further advantage of this significant transition, helping businesses navigate the challenge by adding value and building capacity for future growth.”