Greenaway Scott advise leading UK-based cloud technology company Difference Corporation on its 60% share disposal to Firstcom Europe.
Tuesday 15th May 2018
Firstcom Europe, the pan European provider of cloud telecoms and technologies services has extended its reach in the UK and increased its Contact Centre capability with a majority stake in Difference Corporation. This acquisition will increase Firstcom's UK revenues to more than €5.6m (£4.94m), from €1.7m (£1.5m) in 2013.
Trevor Geraghty, business development director at Difference Corporation, said: "The team at Difference are delighted to be part of Firstcom, an international group of technology companies.
"The reach, scale and experience this brings is excellent news for our people, customers and partners. The founding management team are 100 per cent committed to the project and continuing the 'service first' culture which has made Difference the success it is today."
Adam Crisp, Firstcom Europe's chief technology officer, said: "The acquisition of Difference gives our sales partners access to a new set of communications services backed by a specialist team. The expertise of the Difference team will complement Firstcom's skills set as we develop our next generation communications systems."
Firstcom Europe is currently expanding across the continent, having recently acquired companies in UK, Denmark, Sweden, Poland and Germany.
Jean-Pierre Vandromme, Firstcom Europe's chief executive said: "Difference is the seventh acquisition for the Firstcom Europe Group in four years and will increase our European revenue from €1.7 million in 2013 to €28m this year. We expect to close another three acquisitions in 2018 which would bring our expected revenue to over €50m.
"Our goal is to become the prime Pan-European cloud provider with presence across most of Europe and a revenue of over €100m by 2020. This is a significant milestone on our journey."
Greenaway Scott and UHY advised Difference Corp and AL Goodbody (Dublin) advised Firstcom Europe.