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The Technology Group Invests in New Acquisitions

over 1 year ago by Lucy Cinder

The Technology Group Invests in New Acquisitions

unified communication news

Expanding mobile, telephony and connectivity specialist, “The Technology Group” is moving forward with its plans to hit a £15 million turnover by 2022 with new acquisitions. Recently, the company announced the acquisition of York Telecoms company “Local Telecom Service.” LTS is a family-run business telecoms provider in York.

The price of the acquisition has not been revealed, but The Technology Group have said that the purchase should add another £1.5 million to its turnover. Additionally, the eight people in the LTS team will be remaining in the York office, with the Local Telecom Service brand.

According to the Acquisitions Director for The Technology Group, David Marsden, LTS is a fully established and respected business with a strong consumer base and strong team.

Merging The Technology Group with LTS

Marsden has reassured the 400+ customers currently connected with LTS that things will remain the same after the acquisition. The clients will continue receiving the excellent service and support levels that they expect; from the people, they feel comfortable with. Additionally, they will also have access to new tech innovations, a more extensive product portfolio and a broader range of technology resources and knowledge.

The Technology Group believes that this is an excellent opportunity to bring more fantastic people into their team and attract new customers to the business. They also think that LTS will add a product that garners a lot of respect to their portfolio. LTS is a partner with Panasonic Solutions, which expands the Technology Group’s portfolio.

The former director for Local Telecom Service, Mark Mills noted that the company felt a strong synergy with The Technology Group from the moment they first met. LTS is confident that the business will look after their team and customers going forward.

Continued Growth for the Technology Group

Currently, the Technology Group is on an impressive trajectory of growth. The £6.5 million turnover mobile, telephony and internet services business is headquartered in Leeds but has offices in Welwyn Garden City and London too. Currently, the company has over 900 customers, 39 staff members, and a global telephony solution that spans across 22 countries.

Local Telecom Service is the second acquisition that The Technology Group has made in 18 months. The purchase follows from the acquisition of the Exchange Comms company in 2017. According to David Marsden, a third purchase is also planned for later this year.

Acquisitions are currently one of the major pillars in The Technology Group’s strategy for growth. The business aims to reach a turnover of £15 million by 2022, increase their customer numbers to 2,000, and double their staff members to at least 65.

Source: uctoday

Industry: Unified communications news

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