Onecom has acquired Olive Communications to create a £140m-revenue reseller.
Onecom claims the deal will make it the biggest B2B mobile, fixed-line and cloud specialist in the UK, providing services to more than 500,000 corporate and business end-users this year.
The acquisition follows a £100m investment in Onecom from mid-market private equity firm LDC in July 2019 to fuel the company's three-year growth strategy.
Olive’s Chief Executive, Martin Flick, has been appointed CEO of Onecom Group with founder of Onecom, Darren Ridge, remaining a significant shareholder in a Non-Executive Director role.
Darren Ridge, Non-Executive Director of Onecom Group, said: “We have seen Olive as healthy competitors for years, and their market reputation for delivering cloud services is unrivalled.
"The inevitable changes to working patterns across the UK and globally as a result of the pandemic have accelerated the need for integrated cloud communications and significantly increased demand for transformation and digitalisation.
“Bringing these two businesses together will significantly benefit our customers, partners and stakeholders and employees"
"I look forward to supporting Martin and the leadership team in this next chapter of our journey together.”
Buckinghamshire-based Olive Communications has grown through organic and acquisitive means to more than £31m in annual revenue, pivoting its proposition in 2014 from being ‘mobile-only’ to become the UK’s leading cloud communications provider.
