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08/05/2002
Dixons tap into mobile phone market
Dixons has announced that it has acquired Direct Telephone Services Limited, a leading independently owned mobile phone service for up to £31 million.
Genesis Communications is one of the leading mobile phone contract service providers to small and medium sized businesses (SMEs), focusing on enterprises with up to 250 employees.
Founded in 1995, Genesis has a base of high Average Revenue Per User (ARPU), SME subscribers, primarily to the O2 and Vodafone networks through its service provision licences. It also has a record of strong growth in connections, driven by its strong and differentiated customer proposition. Sales in the 12 months to 31 October 2001 were £51 million and the business is profitable and cash generative.
The management team, led by Managing Director Ian Blackhurst, will continue to lead the business as part of the Dixons Group.
Commenting on the acquisition, Dixons Group Chief Executive, John Clare, said: "Genesis has a strong and experienced management team whose can-do attitude has enabled them to establish a solid reputation in the small business mobiles sector.
"Bringing Genesis into the Dixons Group will greatly strengthen our telecoms offer to business customers of PC World and The Link. This acquisition is a significant step in our objective of creating a leading IT and telecoms convergent solutions provider in the business to business market."
(MB)
Genesis Communications is one of the leading mobile phone contract service providers to small and medium sized businesses (SMEs), focusing on enterprises with up to 250 employees.
Founded in 1995, Genesis has a base of high Average Revenue Per User (ARPU), SME subscribers, primarily to the O2 and Vodafone networks through its service provision licences. It also has a record of strong growth in connections, driven by its strong and differentiated customer proposition. Sales in the 12 months to 31 October 2001 were £51 million and the business is profitable and cash generative.
The management team, led by Managing Director Ian Blackhurst, will continue to lead the business as part of the Dixons Group.
Commenting on the acquisition, Dixons Group Chief Executive, John Clare, said: "Genesis has a strong and experienced management team whose can-do attitude has enabled them to establish a solid reputation in the small business mobiles sector.
"Bringing Genesis into the Dixons Group will greatly strengthen our telecoms offer to business customers of PC World and The Link. This acquisition is a significant step in our objective of creating a leading IT and telecoms convergent solutions provider in the business to business market."
(MB)
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