COMS.L Share News (COMS)

AIM-listed voice telecommunications provider Coms has acquired two sets of telecoms and IT hardware used in providing data networks. The company said that it had purchased one set of assets from the company's Chief Executive Officer, Dave Breith, for a price of £200,000. In addition it acquired another set of assets from TFM Networks for a consideration of £480,000.The company said that both acquisitions were payable in Coms ordinary shares of 0.1p each at a price of 2.7p per share for the TFM assets and 3p for the Dave Breith assets. For a period of three months, all parties have agreed not to sell any shares without the permission of the Coms board, the company said. The company said that the equipment would give Coms a proprietary platform to enable the company to offer a wide range of voice and data services. Having its own hardware would reduce the company's costs, give additional flexibility and enhanced resilience, it said. Iain Ross, Independent Non-executive Director of Coms, commented: "The purchase of these two networks and combining them gives Coms an additional and powerful business advantage. By being able to provide data and broadband in-house gives us the control we need for our core hosted and cloud based services and well as massive upsell opportunities to our growing customer base. This will also help the roll out for our recent large contract win and add additional profitability to the business."Coms' share price was up 0.94% to 2.68p at 11:27 on Wednesday.MF