LONDON (Alliance News) - Coms PLC Monday said it has agreed to acquire mobile phone services company Smarter Mobile UK Ltd in a deal worth GBP225,000.
Smarter Mobile UK trades under the brand name Family Mobile, which was created in partnership with Ikea Family, a loyalty scheme created by Swedish homewares retailer Ikea.
The Family Mobile loyalty scheme allow Ikea customers to share "family accounts" under which any number of individual phones can be managed.
Coms said the deal will enhance its mobile offering for existing SME and enterprise customers, in addition to its expanding mobile customer base.
Smarter Mobile has a current turnover of around GBP240,000 and is earnings before interest, taxation, depreciation and amortisation neutral with net assets of around GBP55,000.
It comes just weeks after Coms said it expects to swing to a full-year pretax profit in the financial year 2013-14.
The cloud-based telephony company said it expects to see a full-year pretax profit of around GBP450,000, revenue of around GBP14.0 million, and earnings before interest, tax, depreciation and amortisation of GBP750,000.
Coms said it expects to release its full-year results in May.
The stock was trading flat at 7.25 pence Monday morning.
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By Anthony Tshibangu; anthonytshibangu@alliancenews.com; @AnthonyAllNews
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