THE telephony, mobile and internet specialist The Technology Group has acquired a York telecoms company as part of its strategy to achieve £15 million turnover by 2022.
The firm has acquired Local Telecom Service (LTS), a family run business to business telecoms provider in York, for an undisclosed sum.
The acquisition will add £1.5m to The Technology Group’s turnover and the eight-strong LTS team will remain at the York office operating under the Local Telecom Service brand.
David Marsden, acquisitions director at The Technology Group, said: “LTS is an established and respected business with a fantastic team and a strong customer base. For the company’s 400 customers it will be very much business as usual: they will continue to receive the same high levels of service and support from the people they have built strong relationships with.
“Added to that, they will have access to a wider product portfolio, the latest technological innovations and the broader technical knowledge and resources that comes from being part of a wider group.
“For The Technology Group, this is a superb opportunity to bring more great people into our team, welcome fantastic new customers to the business and add a globally respected product to our portfolio.”
The former Local Telecom Service director Mark Mills added: “From the first meeting with David and Jonathan we felt there was a synergy between the two businesses, and we feel confident that they will continue to look after our team and customers and take the business forward. I’m sure an exciting future lies ahead for LTS staff and customers.”
The Technology Group is a £6.5 million turnover business which is headquartered in Leeds, with offices in London and Welwyn Garden City.