Business Serve acquires PipeMedia
Business Serve plc has acquired the Pipemedia group, which is Pipemedia Ltd, Pipecall Ltd and Pipemedia communications. The acquisition was for an initial consideration of £300,000 and almost 700,000 ordinary shares at 1p each. Up to a further £1.5 million will be payable it Pipemedia hit various performance targets.
This acquisition should allow Business Serve to expand the options it gives to its business customers, since Pipemedia are very active in the VoIP area. Additionally Pipemedia are one of the few companies that has used Local Loop Unbundling and wireless technologies to get broadband to businesses in areas other than the major urban ones.
Business Serve has an immediate aim which appears to be to fully integrate Pipemedia, so they can quickly cross-sell services and take advantage of the growing VoIP marketplace. In the residential marketplace, VoIP is still viewed as a bit of a geeky toy, but in the office the flexibility it offers particularly with regards home-working is making it very attractive.