SW company snapped up by leading UK tech firm
BUSINESS communications technology company Onecom has bought Devon-based IP Office Ltd and acquired its 700 customers.
Onecom, the UK’s leading business communications technology and cloud communications specialist, has made the Exeter firm its third acquisition in 2021.
The transaction brings IP Office’s Clyst Honiton-based team and in excess of 700 customers into the Onecom Group family.
Onecom did have an office in Plymouth, but closed the branch in Millbay’s Cargo building in 2019. Now it has a presence in the South West again, adding Exeter to offices in Hampshire, Essex, Leeds, Telford, Cardiff, Brighton, High Wycombe, Glasgow and Belfast.
The new partnership with IP Office comes after Hampshire-headquartered Onecom’s acquisition of High Wycombe’s Olive Communications earlier this year, which created the UK’s largest business-to-business mobile, connectivity and cloud specialist in the UK, in a deal that was closely followed by the addition of thousands of customers and hundreds of channel partners with the subsequent acquisition of 9 Group.
Founded in 2002, Onecom employs more than 600 people in offices around the UK and counts Vodafone, Mitel, Samsung, Apple, Gamma and Five9, among others, as its strategic partners.
Onecom is backed by mid-market private equity firm LDC, which is fuelling the business’s ambitious growth strategy and in 2019 provided a £100 million funding package.
IP Office was founded 20 years ago and is now a leading provider of business communications and telephone systems, and technical support.
Martin Flick, Onecom Group chief executive, said: “As we continue to grow, supported by LDC, we are delighted to welcome the IP Office team and customers to Onecom in a move that further supports our mission to build on and extend our geographic presence by acquiring strong businesses that share our culture, values and ethos.
“IP Office has demonstrable strength in the health sector, which is an excellent complement to our already existing specialisms that bring proximity to specific customer needs in distinct markets.
“We are delighted to welcome IP Office’s long-established SME and
‘Strategic acquisitions have been a core component of Onecom’s growth strategy’ YANN SOUILLARD, LDC
enterprise customer base and its fantastic team who share our commitment to providing exceptional products, services and simply brilliant customer experiences to UK businesses of all sizes,” Mr Flick added.
Yann Souillard, head of LDC in London, said: “Strategic acquisitions have been a core component of Onecom’s growth strategy since we backed the business in 2019.
“The acquisition of IP Office supports this strategy by further increasing Onecom’s geographical reach and its capabilities to meet the rising demand for its services.”
Onecom was advised by Shoosmiths and RSM while IP Office Ltd was advised by Ashfords Solicitors and Simpkins Edwards.