ATC buys Britannia Telecom
B2B systems integrator, AT Communications (ATC), has paid £3.84 million for specialist voice and data reseller, Britannia Telecom, as it looks to extend its regional customer base in the UK.B2B systems integrator, AT Communications (ATC), has paid £3.84 million for specialist voice and data reseller, Britannia Telecom, as it looks to extend its regional customer base in the UK.
The consideration was satisfied with £3.47m in cash, £97,845 by the issue of unsecured guaranteed loan notes and by the issue of 589,400 ordinary shares in the capital of ATC. The Harlow business will also assume £2m of debt following the completion of the acquisition.
Britannia has more than 2,300 customers, predominantly located in the North West of England.
Its core activities are supplying, installing and maintaining telephone systems, including fixed line voice and maintenance and it is Panasonic’s largest reseller of business systems in the north of England.
In the year to 30 Nov-ember 2005, Britannia had revenues of £5.47m and profits before tax of £431,000.
Alex Tupman, ATC chief executive, said: “ATC intends to take advantage of a number of cross-selling opportunities across the Group, focusing on the opportunities from our enhanced portfolio, through Britannia’s strong relationships with leading manufacturers and SiNET, ATC’s fully managed hosted VoIP service.”