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Coms completes acquisition of Redstone

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Krystal
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LONDON, UK: Coms plc has confirmed it has formally completed the acquisition of Redstone Converged Solutions Ltd.

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By acquiring Redstone, Coms has instantly strengthened its portfolio with the provision to offer IT support, business infrastructure, data centre and smart building solutions to business across the UK and Europe.

The only condition for completion was the approval of the transaction by Redstone plc shareholders which was received at a Redstone general meeting held recently. The agreed sum for the transaction was £9.5 million.

This purchase swells the Coms business to ensure it is a leading supplier of total telephony and IT solutions to industry. Additionally, Coms immediately grows its infrastructure, client base and revenues thereby ensuring Coms has made further strides over the course of 2013 and offers huge potential to the business in the future. The Redstone brand name will also continue.

Dave Breith, CEO for Coms, said: "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."