Conexion acquisition creates new opportunities in Financial and Professional Services.
Leading Telecom Provider, TFM Networks, has completed the acquisition and integration of Conexion Communications Limited. The acquisition, for a cash consideration of £400K, strengthens its position in the UK market with a £3/4m revenue boost and a premium list of City of London accounts.
Conexion Communications, the specialist provider of fixed line telephony services to the financial and professional services sector, complements the TFM Networks operation, which is rapidly developing its managed data network business from its origins in the hotel and retail sector to address new markets. In addition to the immediate benefits to top and bottom line growth, the acquisition positions TFM Networks firmly in the financial and professional service sector, with opportunities to cross-sell its core managed data products to the Conexion Communications client base.
The companies already had strong ties, with TFM Networks having provided back office, billing and customer services support to Conexion Communications customers for the past eighteen months. “It was a significant benefit that reduced the integration risk and complexity, because customers continued to receive the same support from the same people throughout the process,” remarked TFM Networks C.E.O., Stewart Yates.
The Conexion Communications acquisition follows recent announcements by TFM Networks setting out plans to double its revenues in 2012 through a combination of organic growth, development of indirect channels and selective acquisitions.
Commenting further, Stewart Yates added, “The transaction confirms our ability to deliver on our plans for growth. There are immediate financial benefits that can be achieved without impacting our cost base and further opportunities to cross-sell our core portfolio. Working closely with Conexion has enabled us to develop our integration capability and this will serve us well as we consider further selective acquisitions to drive the business forward rapidly in the coming year.”
TFM Networks Ltd (TFM) is a market leading, business only, Telecom Provider, which offers a complete range of business only services from traditional telephone lines and mobiles, right through to integrated IT communication solutions ,voice and data networks, and access technologies including ADSL, Leased Lines, E.F.M. Circuits Ethernet over fibre and 3G.
TFM’s differentiation is in its focus on delivering solutions that are ‘fit for purpose’ – enabling the right product and the right level of service at the right price point. TFM offers clear and uncomplicated products with a complete choice of throughput and grade of service. Its flexible support packages extend from ‘self service’ and ‘service on demand’ for the technology savvy, right through to the completely integrated and bespoke service wrap-around.
Flexibility extends to its contractual approach, which enables customers to realise, cost control and service innovation within a flexible agreement that anticipates service development and technology migration. It’s a straightforward proposition that aligns business and technology planning with service delivery and ensures that customer solutions remain ‘fit for purpose’ as their businesses evolve.