12/23/2015 1:55:29 PM
Chess funds acquisition drive with £50m Barclays boost
Chess Telecom has secured a £50m cash injection to bolster its acquisition strategy.
The unified comms dealer will use a finance facility from Barclays to drive future takeover plans as well as kick start a management incentive scheme.
The telecoms company has so far pursued an aggressive acquisition strategy, having secured 90 companies by the beginning of 2015. Chess recently spoke to Mobile about its ambitions to move further into the unified comms space, launching its Elite Partner programme to boost its share of the telecoms and IT market.
Describing this strategy as a ‘success’, Richard Btesh, director at Chess, explained that the multi-million investment will enable the company to continue this drive and expand into new services.
He said: ‘The funding received from Barclays demonstrates the success of our strategy of acquiring small to mid-sized telecoms businesses and our move towards the cloud, data and hosted space.’