Mergers and Acquistions News
Categories: Software
March 21st 2011, 10:11AM
Ubiquitous mobile phone company Phones 4u has been sold to private equity firm BC Company in a secondary buyout worth up to £700 million.
Talks on the acquisition of the 500 plus store chain were announced on Friday, after Phones 4u owners Providence changed an earlier decision not to offload the profitable business, the Guardian said.
Andrew Newington, managing partner at BC Partners, said: "With its market-leading position, strong and trusted brand, multi- format strategy, and extensive store network, Phones 4u is ideally positioned to benefit from further strong growth in the smartphone market."
Phones 4u was established in 1996, and now has more than 550 stores around the UK. It sells phones on networks including Orange, T-Mobile and 3.
According to the Guardian, the company has experienced a good growth record in recent years, with a 2010 sales increase of £900 million; a 20 per cent rise on the previous year.
Related News
Categories
- BPO (32)
- Hardware (118)
- IT Services & Consulting (227)
- Media & Information Services (167)
- Semi-Conductors (77)
- Software (230)
- Telecoms (331)
Archive
- May 2012 (0)
- April 2012 (0)
- March 2012 (0)
- February 2012 (0)
- January 2012 (1)
- December 2011 (20)
- November 2011 (20)
- October 2011 (20)
- September 2011 (20)
- August 2011 (20)
- July 2011 (20)
- June 2011 (21)