Irish business telecoms company IP Telecom has acquired Centrecom Systems Limited for an undisclosed sum as the company targets a leadership position in the telecoms market.
Founded in 2005, Centrecom provides managed wifi, voice and technology solutions for a customer list that includes Diageo, Mad Egg and Sherry FitzGerald. Its expertise will help expand IP Telecom’s services, which already include cloud-based voice over internet protocol (VoIP) and unified communications telephony services for business customers in Ireland.
“Joining forces with IP Telecom is a fantastic move for us at Centrecom; together we embark on a shared mission to elevate our offerings and expand our reach, providing B2B telecoms services across Ireland,” said managing director of Centrecom Brian Hewson.
Dublin-headquartered IP Telecom was founded in 2010 by chief executive Shena Brien and chief technology officer Brian Chamberlain. Its more than 4,000 business customers include Decathlon, DID Electrical and Barnardos.
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Ms Brien said the acquisition would allow the company to offer customers additional services. “IP Telecom has large ambitions for the year ahead, and our acquisition of Centrecom is a sign of great things to come; growth is most certainly on the agenda for 2024, and this is one of many moves we will be undertaking in an effort to deliver against that goal.”
The Centrecom acquisition follows a €6 million investment from a development and growth capital fund Development Capital that was designed to fuel acquisitions and support plans to double the company’s revenues. It previously announced plans to expand revenues to €11 million in its 2024 financial year through a combination of organic growth and acquisitions.
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