Private equity-backed Onecom completes 9 Group acquisition
Fri, 05 Mar 2021 | BUSINESS SALE
Telecoms and cloud services provider OneCom, which is backed by private equity firm LDC, has completed the acquisition of 9 Group. The takeover, which follows OneCom’s acquisition of its closest rival Olive Communications last month, will see 9 Group join the wider OneCom group.
The 9 Group includes 9 Retail, which brings with it over 5,000 fixed line and cloud customers, as well as the 9 Partners division, which will add 450 channel partners to OneCom’s customer base.
OneCom received £100 million in backing from LDC in July 2019, to enable the company to pursue a strategy of growth through acquisitions. The takeover of 9 Group represents its fourth acquisition since then, following deals for Glamorgan Telecom Group and Nice Network last year and Olive Communications in February.
Discussing the 9 Group acquisition, OneCom Chief Executive Martin Flick said: "This is a highly significant strategic acquisition for Onecom Group, strengthening our portfolio and further diversifying our revenue streams by adding a large non-mobile telephony provider and a fantastic channel partner community as a new route to market in one move.”
"Supporting and investing in channel partners is essential to our ambition as we go forward. We have a well-established footprint in enterprise and the mid-market and the acquisition will help us, through valued partners, drive sales of our exceptional products and services to businesses of all sizes, with a high degree of proximity to customer need that only a channel can deliver to SMBs at this scale."
LDC Head of London Yann Souillard added: “Acquiring 9 Group will further expand Onecom’s offering and help it reach even more customers, underlining its position as one of the fastest-growing business telecoms providers in the UK.”
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