Marriott Harrison LLP acted for AIM-listed integrated VOIP provider Coms plc on its acquisition of Redstone Converged Solutions Limited (“Redstone”) from Redstone plc for a consideration of £9.5 million. Completion was conditional upon approval of the transaction by Redstone plc shareholders, which was obtained at a Redstone plc general meeting held recently.
Dave Breith, CEO for Coms explains: “”We are delighted to complete the acquisition of Redstone’s ICT business and it demonstrates our intent to become a major player in the sector. Redstone is our seventh acquisition in 2013, and the business is now well positioned to provide the total end-to-end solution. Everyone benefits from this purchase; customers, our partners in the channel, our stakeholders and our staff. We will continue to build on the Redstone brand and this provides an immediate expansion and fully complements our growth strategy of Coms.”
By acquiring Redstone, Coms has instantly strengthened its portfolio with the provision of IT support, business infrastructure, data centre and smart building solutions to business across the UK and Europe.
Simon Charles (Corporate partner) led the Marriott Harrison LLP team with assistance from Ben Devons and David Strong (Corporate associates), Mark Lavers (Real Estate partner) and Bob Cordran (Employment Partner).
Marriott Harrison LLP corporate partner Simon Charles said “The Marriott Harrison and Coms acquisition teams integrated really well on this. The transaction is a significant one for Coms and we look forward to continuing to work with Coms on the implementation of its acquisition strategy”.