 "New Call Telecom buys WaveCrest")
UK-based New Call Telecom, which started operations four years ago, on Tuesday said it has acquired London-based Wave Crest that operates in wholesale voice segment.
The financial details of the deal is not disclosed. However, WaveCrest terminates more than 3 billion voice minutes per year and generates revenues close to $120 million.
The acquisition comes within a few weeks after New Call telecom picked up a 70 per cent in instant messaging player Nimbuzz for about $175 million. New Call is also in process of buying a substantial stake in Delhi-based Ozone Networks, one of India's leading public wi-fi operators. The application for the deal with the Foreign Investment Promotion Board is awaiting clearance.
"There are considerable synergies between our two companies and this acquisition is in line with our international expansion strategy. In common with Nimbuzz, which processes more than 1 billion VoIP call minutes per month, WaveCrest has a global reach built on their state-of-the-art technology," said Nigel Eastwood, CEO, New Call Telecom.
Eastwood earlier said that the company was planning to offer Indian customers social messaging services with voice-over-internet calls, public wi-fi hubs and fixed-line broadband with wi-fi at homes and offices. Its strategy is to get into these businesses through acquisitions. It is also in talks with fixed-line broadband service providers, including cable operators, for a possible take over.
New Call Telecom was established by Eastwood after a management buy-in of the business from its US parent company, PTGi. In 2013, Jerome Booth, owner of investors New Sparta that has interests in a number of fast-growing companies including Icon Film Distribution, became the chairman of New Call Telecom.