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Combined Onecom and Olive eye £140m annual turnover
16 February 2021 | Melanie Mingas UK-based Onecom has acquired Olive Communication, creating a service provider that is on track to generate annual turnover of more than £140m.
Onecom said Olive Communications was its closest rival and that the two merging creates the largest business-to-business mobile, fixed-line and cloud specialist in the UK . It is Onecom s third acquisition since 2019.
With their activities combined Onecom and Olive will provide services to more than 500,000 corporate and business end users this year.
Darren Ridge, non-executive director of Onecom Group said: “I’m really proud of all that we have achieved so far at Onecom in leading the market to deliver exceptional service to our customers and forming strong relationships with key partners.
A TELECOMS firm has acquired its closest rival in a move which it says creates the largest UK player in its field. Hampshire-based Onecom has bought Olive Communications to form the largest business-to-business mobile, fixed-line and cloud specialist in the UK. Together, Onecom and Olive will provide services to more than 500,000 corporate and business users this year, generating combined annual turnover of more than £140million, an announcmeent said. The deal sees Olive’s chief executive, Martin Flick, become chief executive of Onecom Group. Darren Ridge, who founded Onecom in 2002 and has grown it to achieve annual revenues of more than £90m, remains a significant shareholder and will stay as a non-executive director.